Several years ago, my local FFL and I made a call to the BATF Field Office for clarification on Antique status. We were told exactly what Tom Martin, 2piper, vangulil, and bladeswitcher said... if the gun was made prior to 1899, it is an Antique, period, and not considered a firearm for purposes of FFL Transfer. We were told that it is actually wrong to even enter such Antiques in the FFL's Bound Ledger Book since that is intended for modern firearms only.
The gun in question at the time was a Antique 12 gauge double that I bought on Gunbroker, and the seller insisted that it had to be transferred through an FFL even though it was easily proven to be pre-1899. And we all know that 12 gauge ammo is readily available. The seller still insisted on sending it to an FFL, so my FFL guy took delivery of the shotgun and simply handed it to me when it arrived at his shop when he saw that it was Antique. Actually, the Antique status for BATF purposes applies only to when the action or receiver was built. If it can be proven that the action was built prior to 1899, and the gun was not assembled and sold until years later, after 1899, it is still an Antique gun.
It's a little confusing. But what really confuses me is why Franc Otte types with a British accent when he lives in the U.S., but guys like Damascus or gunman who actually live in Great Britain do not. Blimey! I guess it's meant to impress us Yankee blokes on this side of the pond, eh wot? Weird.