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Ya gotta remember what bone goes thru before it gets on a knife -- it gets cleaned all kinda ways - most with heat - degreased, bleached, dried, dyed, flattened (hot), cut, jigged, drilled, ground (often getting very hot), buffed (hot again). It's just a thin section of bone - it can use a bit of help to be as strong as it can be.This is all great info! I had no idea that bone handles could be too dry. I'm learning even more about this than I expected.
Jim
My favorite oil for this purpose (and practically any other knife and firearms-related purpose) is Ballistol. This great old stuff does a fine job as a handle preservative and as a lubricant and as a rust preventer. It is non-toxic, too.
Ballistol will darken antler, a bit, and it can "fade" new dyed jigged bone. However, IMHO, this tendency is more than offset by the advantages that Ballistol offers.