That is exactly what we did back in 90's when a yuppy area in Houston (don't remember but I think it was Belaire). We told all the guys we worked with (ship channel so a variety of characters) we were paying 50 bucks for any gun no matter the condition. We got 18 old crap "blow up in your hand" guns. Mostly old gut shooters that were rusted shut.
We took them to the turn in day and got 100 each (we got 80 dollars on one because the barrel fell off when we turned it in.) We split the profits and I bought a nice little Ruger 22. Free money!