A total of 25,171 firearms were reported stolen to police in Australia between 1994 and 2000. This equates to an average of about 12 firearms reported stolen per day. The majority of firearms reported stolen are rifles (51%), followed by shotguns (21%) and handguns (14%). Most firearms are reported stolen from a residential premise (81%). Currently there are over two million registered firearms in Australia and, annually, less than one per cent are reported stolen to police. This means that, on average, over 4,000 legal firearms are stolen annually in Australia and, most importantly, there is the possibility that at least some of these are being transferred into the illegitimate firearms market. Over the six-year period examined there has been a decline in the number of firearms reported stolen, suggesting vigilance of firearms owners in securing their firearms, making them less accessible to thieves. The findings of this paper re-emphasise the need for policy to focus on reducing the number of firearms stolen, and for further research on identifying the sources of firearms used in crime in Australia.