Rev. Rul. 54-300

Section 4 of the Federal Firearms Act, 52 Stat. 1251, 15 U.S.C. 904, makes certain exceptions to the regulatory requirements of the act for the procurement of a license. The section includes a provision that the act does not apply to the transportation, shipment, or receipt of any antique or unserviceable firearms, or ammunition, possessed and held as curios or museum pieces. These exceptions do not include persons engaged in the business of importing antique or unserviceable firearms for commercial sale. Accordingly, a person engaged in the business of importing antique or unserviceable firearms for purposes of commercial sale, as distinguished from a person importing and holding such firearms solely in his possession as curios or museum pieces, is required to qualify and obtain a license as an importer of firearms and to maintain appropriate records showing acquisition and disposition of such firearms pursuant to the provisions of the Federal Firearms Act and Regulations 131.