I believe you can only dismantle RARE (blue) fusion rifles for that. Sorry dude. :(
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It clearly states Rare or higher quality. Exotic surely is.... :/
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It's been bugged for a year.
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God damn. Sort it out Bungie! Hope they give me the progress back or something if they notice this post...
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Bungie can't give you back progress. I know its dumb but people would use it to cheat :(
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Unfortunately I don't think they will. Once the Gunsmith sells rare fusion rifles buy them. That's how i did it.