Do the boxes say anything on the end-flap about being tracer ammo? The box you described (and the price, too) sounds like standard UMC .308 ammo. I have about a half-case of it left from the mid-90s, and the headstamps on the cases read "R - P" on the top edge and ".308WIN" below. If the product code on the end flap of the box is "L308W4", it's the same stuff I have, and it should be standard .308 Winchester FMJ ammo inside, not tracer.
The "LC" on the headstamp indicates ammo made at the Lake City Army ammunition plant, and I don't think they have ever been affiliated with Remington/UMC. My guess is someone picked up some "surplus" 7.62 Tracer ammo and stuck it in a couple of empty UMC boxes.
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Last edited by DJ Niner; 10-08-2012 at 00:36..