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Is a 50 year old model tht is still in production exempt?
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The 50-year rule applies to production as well as non-production; for instance a model manufactured in 1958 would qualify but not the same model built in 1959. Specific dates of manufacture are key here.
One caveat is firearms can be placed on the C&R list regardless of manufacture date if they can be shown to have a certain degree of rarity or collectibility - it's up to the BATFE.