ALBUQUERQUE, N.M. (KRQE) – The Albuquerque Police Department is teaming up to hold a gun buyback event. This gives New Mexicans a chance to exchange unwanted guns for cash. Story continues below Podcast: Tent Rocks National Monument reopens with new fees and new rules News: Albuquerque man accused of shooting stepmom asks judge to spend Christmas Eve with family Trending: Tingley Coliseum undergoes renovations as governor looks to possibly move state fair site  Don't Miss: 15-foot tumbleweed snowman pops up in Socorro The gun buyback will be held from 9 a.m. - 12 p.m. at the APD University Substation. The buyback will offer $250 cash for assault weapons, $200 for semi-automatic handguns or rifles, and $100 for long guns, revolvers, and pistols. Weapons must be unloaded, in good working order, and left in the trunk. Everything is 100% anonymous. The University of New Mexico provided 500 tickets for the event and interested participants can receive a ticket along with their cash.