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That's a very good point you made buckhorn. I'm now wondering what category a converted C/B would fall under in regards to its Registration with the ATF?
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It's been discussed a time or two before. It's a firearm to the ATF. The ATF doesn't care whether it's converted or not - if it can fire modern cartridge ammunition, it's a firearm. But the ATF doesn't register firearms. Local and state laws vary wildly, of course.
And I've got to say that this particular one is a beauty!