Thank You, gentlemen for your replies.
I would be using it for just a few transactions a year. Completely self-serving.
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That is it's intended use. It is a collectors license, not a 'for profit' business license.
The number of transactions you do makes no difference,,, but that it is self serving is the way it should be used.
If you start to buy & sell with it beyound a very gray area of what would be considered a collectors/accumulators hobby (making it a for profit business in other words),,better trade the 03 in on an 01FFL.
You never have to deal with 4473 forms or NICS checks. Those are set aside for 01FFL's.
You do keep a bound book of aquisitions and dispositions of the C&R's.
Most C&R holders never see a compliance check but they are subject to them non the less.
Follow the rules, keep the paper work in sparkling shape and up to date and you'll have no problems.
Aside from discounts, having shipments come right to the license address, not having to pay a transfer fee thru an 01FFl, being able to purchase at a shop or gunshow on the 03FFL w/o 4473 & NICS are some of the advantages.
Not all 01's will accept them and some State laws might not allow the purchase.
