There is some bad news from the halls of the U.S. Congress: H.R. 8 has been introduced by Representative Mike Thompson–Democrat of California. Dubbed the Bipartisan Background Checks Act of 2019, this is horrible piece of legislation that is likely to become law! The word from the District of Criminals is that this Private Gun Transfer Ban bill is on the fast-track through committee, for passage. Ominously, it quickly gained 225 co-sponsors. And President Trump has given mixed messages about whether or not he would sign such a bill. Uh-oh!
A Private Transfer Ban, But it Sounds So Reasonable
The mass media is using soft-sounding phrases like “Universal Background Checks”, “Reasonable Step”, and “Closing the Gun Show Loophole”. But with H.R. 8 what we’d get is a Private Gun Transfer Ban with the tyranny of bureaucracy poking its nose into our gun closets. It would make it illegal to sell, give, or even lend a gun to a neighbor without Federal paperwork. And it would make gun shows as we now know them and newspaper ads for used guns quaint things of the past.
Most Americans have not considered the full implications of a nationwide private transfer ban. This would essentially end the privacy of firearms ownership. Nearly all transfers would have to go through an FFL, (for a fee) with an FBI background check. Whether it is a sale, a gift, a trade, or a loan, all gun transfers would have to be “papered” on a ATF Form 4473. The only exceptions would be gifts (not sales) within an immediate family, and transfers of antique (pre-1899 manufactured) guns. All other transfers would require a background check and completion of a dreaded Form 4473!
The Coming Pre-1899 Boom
Since 1992, I have extolled investing in Federally-exempt pre-1899 guns. I wrote a FAQ on the subject that has been updated several times and that is widely cited and cross-posted. You should take the time to read it, but here is the most pertinent point: A December 31, 1898 threshold was set in stone, with passage of the U.S. Gun Control Act of 1968 (GCA-68). Per the Federal law, any guns made on or before December 31, 1898 are legally exempt “antiques”, but those made on or after January 1, 1899 are controlled “firearms.” While state and local laws often differ, under Federal law any antiques can be freely transferred across state lines with no paperwork required. But less than 1/2 of 1% of the guns in the United States are pre-1899 antiques.
I predict that if a nationwide private transfer ban is enacted, suddenly everyone would wake up to the significance of the scarce pre-1899 cartridge guns. There would then be a huge rush to by them. However, since there is such a tiny supply, prices will double with two years. And within five years, their prices will triple. I’m not kidding: I mean a genuine 300% gain. The law of supply and demand is inescapable. Those wishing privacy for cartridge gun purchases will only have one really viable option: Pre-1899 antiques. Buying anything else would require paperwork and an FBI background check.