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A +P or +P+ designation is denoting a +Pressure round. For instance, a .38SPL has a max SAAMI pressure of around 16,500psi. A +P has a max pressure of 18-19,000psi.
The reason for using a +P is for higher velocity with a given powder, simple as that. Higher velocity=higher energy. A lot of alloy framed revolvers or pistols are not recommended for use with +P or +P+ ammo.
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