Acquiring a C&R firearm by possession.

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?

dogtown tom said:

You record the acquisition and disposition of any eligible firearms while you are licensed.

When you decide to sell it, simply record the manufacturer/model/serial#/type/caliber in your bound book, acquired from "personal collection" and subsequently the disposition to the buyer.
https://www.ecfr.gov/cgi-bin/text-i...06dfa39&mc=true&node=se27.3.478_1125&rgn=div8 See paragraph (f)

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Tru Dat but that doesn't answer the question I asked.

Is a firearm "becoming" C&R considered as Acquiring? Does it need to get logged in under acquisitions or is it treated like any items in a personal collection that were already C&R status before being licensed? I just bring this up because it is reaching the point when a bunch of guns I bought when they were new are now about 50 years old.

Telekinesis said:

He did answer your question....

Let me try:
If you dispose of a gun that is C&R eligible at the time of disposition - there must be an event logged in your bound book.

If you acquire a gun that is C&R eligible - there must be an event logged in your bound book.

If a gun you already own turns 50 (becomes C&R eligible) but you don't do anything with it - there was no acquisition or disposition, so don't do anything.

If you owned a gun prior to getting your license and at the time of disposition it is C&R eligible - there must be an event logged in your book (that's where you note "acquired from personal collection).

IIRC unless they've changed their interpretation, a simple spreadsheet doesn't meet the audit record/control requirements for FFL bound books (might want Dogtown Tom to confirm that though)

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Finally an answer.

If a gun you already own turns 50 (becomes C&R eligible) but you don't do anything with it - there was no acquisition or disposition, so don't do anything.

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That was my question.

IIRC unless they've changed their interpretation, a simple spreadsheet doesn't meet the audit record/control requirements for FFL bound books (might want Dogtown Tom to confirm that though)

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I still have a bound book but the latest copy of the regs I saw said that an electronic version was acceptable and it would be much easier to maintain and reference. I'll try to find the material I saw online.

AbE: found it. 2016-1- Requirements to Keep Firearms Records Electronically Starts on page 4.