Lloyd,
Yep, those ARE official USCG stripes. USCGC Gallatin 1969-1970, New York, NY, and USCGC Mariposa 1970-1973, New London, CT.
When I reported aboard the Mariposa, she was armed with M1s (as was the Gallatin), .45s and .50 cal BMGs. The barrels on 4 of the M1s were in such bad shape that I doubt you could have gotten a .22 through them - there were only two that I would actually shoot.
Eventually the first class bosun on the Mariposa and I hauled them to Governor's Island in NYC on a flat bed truck and traded them for M16s. While I was at the armory dealing with the transfer, Boats was getting drunk. (He was supposed to be along to drive the truck since my government license didn't qualify me for anything that big.) Then, I had to drive the #%&* truck back through NY loaded with guns and ammo while he slept (or passed out).
Ahhh, Those were the days...