Forsyth793:

Is it rusted/pitted, or just blue-worn? Pitting can't be corrected without major restoration- not worth the trouble & expense. Worn bluing can be fixed, but my fix would make a serious collector/purist fall in a swoon.

If you want to try it, Google "Van's Gun Blue" and order some from the company. It is far and away the best cold-touchup bluing solution to be found IMHO. Take the gun down to major subassemblies (cylinder and frame), degrease it thoroughly, and get yourself some new, clean 3M fiber pads. Cut a small square of the 3M pad, soak it with Van's, and start rubbing gently. The slightly abrasive 3M pad cuts off the oxide layer that forms on the metal and allows the solution to penetrate, so the more you rub, the deeper and richer the blue gets. When it looks right, wipe down with a clean paper towel and oil the metal well, and reassemble.

I have done a number of guns like this and they have all turned out well.

I gotta say this, folks: When working with bluing solutions and degreasers, ALWAYS WEAR CHEMICAL-RESISTANT GLOVES AND DO IT IN A WELL-VENTILATED AREA! (sorry to yell, but I just got through a bout of bladder cancer after having slathered chlorinated solvents on my hands and arms for 40 years or so. Dunno if that had anything to do with it, but why take the chance?)

Good luck, and enjoy that little .32, regardless of whether or not you decide to refinish it. I have a little .38 Terrier that had seen hard days before I got it. I gave it the Van's treatment, and it looks very nice now, even after a couple years of carry in a pocket holster. Like the .32, it's no powerhouse, but it's accurate and fun.

Best,
Snuffy2