Reptilex,
i am a Colt AR-15 collector, what i think you have there is a bastardized "A3 Tactical", as there is no "M4" stamped in the upper on a true 6721 upper
the only Colt AR-15 that i know of that demands a price above $4,000 is the "Colt AR-15 A3 Tactical".., YES...!!! there were 134 of them made & i have one, if the lower receiver does not have that specific designation it is NOT an original "Tactical" also the "Tactical" has a S/N starting with BD000XXX & the barrel is 16", has no "step" & is a heavy weight
if that "Tactical" has a S/N above BD000134 it is considered a LEO/Military only weapon, cutting off the bayo lug & changing the FH will render the gun "JUNK", & will NOT make it legal under any circumstances, it is the S/N that determines whether a rifle is or is not pre-ban...
can you post a photo ? if not, give a full & complete description of this gun..., i mean every single stamped lettering, both upper & lower..., my best guess is that someone is trying to sell you somthing priced about $3,000 too high !!!!!!!!!!!