Did that very thing to my old Becker Necker. Works like a charm. It provides a very grippy surface, and I believe it is chemical-resistant, so no problems with anything getting through to the underlying metal. I stripped it off a while back, and let me tell you, it sticks pretty darn well to the coating on the handle. I had to scrape it off in some parts. 2 things I would do differently next time: 1) paint it on, instead of dipping it. The larger rubber chunks adhered to the surface, and made for a lumpy grip, with the dipping method, and 2) cord-wrap it first, then do the coating. Makes the grip beefier, and the paracord adds just a bit of cushion. Not to mention, it would make removal of the whole mess a lot easier if you ever decide to go back to the original state.