I had one a LONG time ago. Wish I could remember how long it took, but I'm certain it wouldn't apply now anyway. Personally, based on the kinds of guns I am interested in, I couldn't see any reason to have it. So I just let it lapse when it came time for renewal.
But maybe I am missing something. What exactly can you DO with it?
When I applied for it, I thought it was going to be like an FFL, except it was a TRUE collector's license. In other words, giving me the capability to buy firearms across state lines, line an FFL can, but for my own personal collection. Needles to say, I was severely disappointed when I read what I could actually do with the darn thing. Which in my case, was NOTHING at all.
Well,my primary interest is in getting some few older mil-surp rifles(& handguns) directly from the importer/supplier.I have an interest in straight pull rifles.There are only two shops within fifty miles that carry any mil-surps.Looking at their prices vs. what is advertised on the suppliers' websites-yikes!-the liscence fee pays for itself w/the first purchase.
Also,a C&R FFL also qualifies me to get my Garands from the CMP.
.41 MAG, I do have an 03 license. It took about three weeks to get. You can save a BUNDLE on C&R guns. Dealer markup is very high, but you can't blame them completely. They have their overhead to consider and of course they need to make a profit. I just couldn't see paying $175.00 for a Yugoslavian M48 Mauser that was listed at $89.95 in SGN. Ditto for a Yugolslavian SKS in Excellent condition advertised for $149.95 and a dealer want's a cool $280.00 for it. A warning though. I went berserk and now have a houseful of Military Surplus guns. It's almost too easy. Record keeping is very simple and as long as you don't start buying and selling like a dealer, ATFE isn't concerned at all. If you would like, I'll furnish a good site that will answer all your questions and give you a list of dealers to send a copy of your license to. You'll get flyers every month. Don't make the mistake of SIGNING your original license!! Make copies and sign only the copies. Let me know if you need any help.