gunsmiths bound book 2
"What you say has excellent merit. Why can't pawnshops do the same? (Same person pawning is also retrieving).
And consignment that doesn't sell..'Rec'd from John Doe and Ret'd to John Doe.
What makes the difference? There has to be something? Can you start a second bound book for pawns/consignments? Thanks, Joe"..............it's the way the law (regulation) is writen, a pawn is technicly a 'sale'. same as a consignment. both must be entered in the ffl's 'for sale' book and must be logged out with a 4473. there is special exception for firearms for repair (or replacement).
And consignment that doesn't sell..'Rec'd from John Doe and Ret'd to John Doe.
What makes the difference? There has to be something? Can you start a second bound book for pawns/consignments? Thanks, Joe"..............it's the way the law (regulation) is writen, a pawn is technicly a 'sale'. same as a consignment. both must be entered in the ffl's 'for sale' book and must be logged out with a 4473. there is special exception for firearms for repair (or replacement).
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Decades ago when there was a Type 02 FFL specifically for pawnbrokers they were able to transfer pawned guns pretty much the same way that Mike laid out for gun smiths. 25 years ago when the entire FFL licensing system was revamped the Type 02 was eliminated (along with a few other FFL types) and all pawnbrokers had to apply for Type 01 dealer licenses and follow the same transfer rules as dealers.
I usually learn something new here in our forum at least once each week. The amount of knowledge floating around in Ask The Experts is amazing.0 -
TY!!
(I always acknowledge any question I've asked). Best, Joe0
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