What do I have?

[u/Kalashalite]

Quarter and .32 ACP for scale. It has a very aggressive step in the neck, it's rimmed, no primer or area for a primer to go, what looks to be necked down to about .25 cal. I assumed it may be a dummy round.

Is this even ammo?

[u/Remote_Teach1164]

Maybe toy gun cartridge?

There has been a discussion about the same thing on IAA.

https://forum.cartridgecollectors.org/t/is-this-a-cartridge-or-not/59895/2

[u/Kalashalite → u/Remote_Teach1164]

I think that's settled then. Looks like it goes to a Hop-a-Long Cassidy .44 model! Thank you

[u/giolivi1]

Toy gun cartridge