LEGEN...wait for it... DARY!
I have not got my packet of materials yet and it may be explained in there but, I've read if a gun is over 50 years old it doesn't have to be listed on the ATF C&R list to qualify as a C&R purchase. Can anyone explain this in more detail because it is confusing? If I find a Colt 1911 that is over 50 years old, can I buy it as a C&R purchase?
It's an arbitrary number designed to keep us collectors from becoming dealers without the other license. It mostly just prevents us from conveniently collecting more modern stuff.