The protective Gun Wrap Paper that comes with S&W firearms emits a chemical to protect metal for a certain amount of time. Some say the protection lasts 10 - 15 years and some claim it is all gone after only a few years. Since I use my guns on a regular basis, the paper usually gets beat up, torn and soft in 4 or 5 years so I replace it. I get new VOC Paper from S&W in bulk and store it in an air tight heavy duty bag where I hope it retains its protective qualities. Similar paper is also sold by Brownell's and Midway-USA but does not have the S&W logo on it of course.

If I buy a vintage gun and the original paper is still there in the box, I'll fold it up to store in the box but use a newer piece for protection. S&W protective paper has changed many times over the years so if you get a vintage piece with a gun it's worth preserving IMO.

S&W is not the only Company that uses this stuff, however some Company's are now just wiping their guns with an oil and sticking them in a plastic bag for shipping.