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I picked up a compact Remington 1187 Sportsman in 20 gauge for my wife today at Walmart. It was on clearance for $250. You can't beat that price for a semi auto shotgun! Trying to get her to go shoot with me every once in a while, so this was perfect for our needs. Not as nice as my Beretta A300 though.

If you are going the semi-auto on a budget route, take a look at the Beretta A300 Outlander. My son and I have had these for several years now and have not had any issues with them. Not as pretty as other Berettas, but not as expensive either.

Franchi Affinity and Weatherby SA-08 also come to mind for less expensive choices. Used Beretta 391s should be plentiful as well.