An awards program has developed over the years, and is one of many highlights of the annual exhibition. The "Engravers Choice Award," open to exhibiting members, carries a special significance. Member engravers in attendance judge the entries – a "jury by peers."

Other awards and educational scholarships are sponsored by industry manufacturers as part of the exhibition.

Since their inception, the awards program has encouraged engravers and inspired levels of excellence in the art of firearm engraving barely imagined when the program began.