My plan at first is to get the rust off but leave the satin looking patina on it and then try to polish the scales as well as put a light finish on the blade and bolsters
Got to find some sort of polishing compound now I have gotten all the visible rust off and have waxed the entire thing with renaissance wax. Now I need to find a polish that I can use to really make the blade and bolsters pop
I wouldn't polish the Blade at all. Like our friend Rick said 0000 Grade Steel Wool and Mineral oil will do all the rust removal and as well polish- without shining if that makes sense.
Renaissance wax is good for when storing a knife - but I don't use Renaissance if the knife is a user ( unless it is put away for some time with rotation of EDC' s - then I will use Renaissance Wax).
I wouldn't polish the blade or bolsters either, if you want a new looking knife a new knife can be bought ( obviously not this knife though ) but only an old knife has this kind of character.
It's your knife and I'm sure it won't look bad all polished up, but won't have the rustic aged charm.
This is a photo update as to where I am with the project so far. Renaissance wax on the scales only I believe helped with their color and made them look deeper. Rust removed from all metal areas or the backspring, bolster, and blade. Considered polishing the metal areas but this finish on this old piece looks absolutely amazing and when I can take a pic in better light I will post it. Now to sharpen the blade and try to lube the areas where the blade contacts the backspring and liners
What type of blade play, left to right? Or front to back? Left to right can be fixed by clamping or sticking it in a vice where the blade pivot pin runs thru the tang, don't tighten to much or else it won't want to open or close, and use soft jaws.
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