Why no discussion of using an LLC to buy and hold a class 3 weapon? I’m a lawyer, but anyone can form an LLC himself. Mine is a single-member LLC, so no operating agreement or EIN required. I can later add members to facilitate transfer at death.
The CMP is preparing to sell 1911A1's from the army's stock. Prices are pretty reasonable, but the guns are likely to have been rebuilt, etc. The better ones will be auctioned. http://thecmp.org/cmp_sales/1911-information/
Why not use an LLC? Inexpensive and you can have multiple members and managers and an infinite life. A Colorado LLC, for example, costs $50 to create, $10 year for annual report. All online.