The "Machine gun" if it is truly an automatic weapon could be worth a lot or it may only be worth a trip to prison.
In 1986, Congress enacted a law banning the possession and transfer of all machine guns except machine guns manufactured prior to May 19, 1986, and machine guns possessed by or manufactured for governmental entities.
With certain limited exceptions, the NFA requires anyone transferring a machine gun to register it with ATF. (The NFA put this responsibility, along with the $200 tax discussed below, on the transferor, rather than the transferee, in an effort to deter all transfers of machine guns. In order to register a machine gun, a transferor must obtain authorization from ATF prior to the transfer in accordance with ATF regulations.
The sticky is registering a previously unregistered machine gun. My understanding is you can't do it (if wrong someone will surely correct me) - that's why the price of "legal" automatic rifles are so high - there are only so many legal automatic weapons out there and the number of people that would like to buy one keeps growing. That's why a new semi automatic AR15 can be bought for $600-$2000 and a used automatic M16 is $10,000 to $30,000.
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Today's Featured Article - A Brief History of Tractors in Australia - by Bob Kavanagh. After Captain Cook's exploration of the east coast in 1770 the British Government decided to establish a penal colony in Australia. The first fleet arrived in 1788 and consisted mainly of convicts who were poorly equipped and new little of farming techniques. The colony remained far from self-supporting and it was not until the early 1800's that things started to improve. Free settlers started to arrive, they followed the explorers across the mountains and where land was suitable set up farms. T
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