Maybe the amount of swords would stay the same. For example: BG-57 and I are FFT warriors. I become jealous of his avatar and throw our one Excalibur at him. He catches the Excalibur and puts it in his pocket (don't ask me how). Despotus (also a FFT warrior on our team) decides to join in the fun, grabs the one Excalibur, and also throws it at BG-57, who again catches it and puts it away.
After we kill the enemies, the avatar issue is resolved, and the team of UltimaLimit, BG-57, and Despotus still only has one Excalibur.

Think that's what might happen, since the team shares the same "backpack"?