jar
Contributing Member
So I have a few firearms that are on the verge of becoming 50 years old. They were new when I bought them so technically I guess I acquired them as a C&R only when they passed that milestone; one day they are not C&R and the next day they are (or "one year they are not C&R and the next year they are).
The rules say that I need to log all the C&R items I acquire or dispose of during the period my license is in effect. If I bought a C&R item before I was licensed then it's status has not changed and I did not acquire it while I had a license. If I sell it though I need to log that sale in my BBB (Big Bound Book aka spreadsheet) as from my personal collection.
Say I have a Colt Mark III revolver that I purchased new in 1969 and has been in my collection since then. At some time in 2019 or 2020 that gun suddenly becomes a C&R firearm.
Once that happens, once it is 50 years old or older; if I sell or trade or give away the Mark III I need to log it in the BBB. But do I have to log it becoming C&R in the BBB as well or just treat it as I would a C&R gun I purchased before becoming a C&R FFL holder?
The rules say that I need to log all the C&R items I acquire or dispose of during the period my license is in effect. If I bought a C&R item before I was licensed then it's status has not changed and I did not acquire it while I had a license. If I sell it though I need to log that sale in my BBB (Big Bound Book aka spreadsheet) as from my personal collection.
Say I have a Colt Mark III revolver that I purchased new in 1969 and has been in my collection since then. At some time in 2019 or 2020 that gun suddenly becomes a C&R firearm.
Once that happens, once it is 50 years old or older; if I sell or trade or give away the Mark III I need to log it in the BBB. But do I have to log it becoming C&R in the BBB as well or just treat it as I would a C&R gun I purchased before becoming a C&R FFL holder?