Reply #7: There are two competing schools of thought. [View All]

[benEzra]

One would be the "museum curator" school of thought, in which things are left pretty much "as-is" (even if it looks absolutely horrible and disfigured) in the interest of preserving every detail of the item's history.

The other school of thought is the "restorer" school of thought, in which items are restored to as original a condition as possible using period techniques as much as possible. This is the mindset of most car collectors; you don't see too many '57 Chevys with dry-rotted tires, rusted-out rocker panels, and blue smoke spewing from the tailpipes winning car shows; you see cars that look like they just came off the assembly line.

In cars, restored vehicles are worth more; with guns, as others have said, it depends. Ultra-rare types are often preferred in their unrestored condition, but common types are sometimes valued more if they are restored. So an original-condition 1836 Colt revolver would probably be a bad idea to refinish, but refinishing a Garand to "factory new" condition might actually increase its value, unless it bore battle damage from known engagements in historical battles or something.