RE: questions about refinishing an old gun
They make a kit for reblueing old guns - it's a cold blue, but the truth is that it is not any good and most of the time - all it will do is make the gun rust faster.
The gun shop here charges $75 plus a disassembly fee to take apart your gun and send it off to have it done the right way. But the value of your rifle might only be $150, so it is cost prohibitive to do that.
Your best bet is to let it alone and keep a good coat of oil on it and it will be just fine.