(a) The provisions of this part shall not apply to:

(1) Any firearm, including any handgun with a matchlock, flintlock, percussion cap, or similar type of ignition system, manufactured in or before 1898;

(2) Any replica of any firearm described in paragraph (1) of this subsection if such replica is not designed or redesigned to use rimfire or conventional center-fire fixed ammunition or uses rimfire or conventional center-fire fixed ammunition which is no longer manufactured in the United States and which is not readily available in the ordinary channels of commercial trade;

(3) Any firearm which is a curio or relic as defined by 27 C.F.R. 178.11; and

(4) Potential buyers or transferees who hold a valid permit or license to carry a pistol or revolver pursuant to Code Section 16-11-129 and who exhibit such permit or license to a licensed dealer.

(b) Notwithstanding any other provisions of this part, in any case where a person has transferred a handgun as collateral for a loan or as pledged goods in a pawn transaction and such transaction has been carried out pursuant to the provisions of this part, upon such person reclaiming or redeeming the handgun from the dealer or upon such person transferring any other handgun as collateral or pledged goods to the same dealer or reclaiming the same at any time during the 12 month period immediately following the original transaction with such dealer, the provisions of this part shall not apply to such transfers subsequent to the original transfer during such 12 month period.