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A 2-3/4" 1-1/4 oz lead shotgun shell contains approximately 150-170 pellets, depending on the pellet size, such as 169 pellets for #4 shot or 210-224 pellets for #5 shot. The exact number varies because different shot sizes have a different number of pellets per ounce, with larger pellets resulting in fewer pellets in the total payload. For #4 shot: A 1-1/4 oz load will have roughly 169 pellets. For #5 shot: A 1-1/4 oz load can contain approximately 210 to 224 pellets.