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Oil finishes ie : Tung oil, Teak oil, Danish Oil, tend to get splotchy when applied to old wood with an unknown finish on there.. If you were going to restore it then any of those would be good, but...

Blade is clean and shiny, the scales are good looking and fully functional, hone it and shave :)

I would make certain of what the scales are made of first, if Horn use Neatsfoot oil, if Wood use...