I am often asked how a C&R license (Curio & Relic, also called a Type 03 Federal Firearms License; not to be confused with "Class 3") affects the purchase of a machine gun. So, I put the question to John Keene, NFA specialist for the Morphy Auction Company...

The short version is that a C&R license does not allow you to skip the NFA transfer process. You still must submit fingerprints and photographs, and wait 6-9 months for your tax stamp to be processed. Once it is approved, however, a C&R eligible machine gun can be shipped interstate to you, without having to go through an NFA dealer in your state.