It all depends how much you are willing to risk for the contents of a wallet/purse even if the purse contains a pistol.
You are risking:
1. Killing a person over a small amount of property
2. Your freedom
3. Your family (as they will be without you while you're a guest of the state)
4. Financial ruin
Personally, I value family and freedom over a $400 .38 or some credit cards that will be canceled within 30 minutes.