You should have them restored if possible. I have several razors that belonged to my grandfather. Two of the razors were in good enough condition to have them restored and made shave ready. One is a Frederick Reynolds that dates back to the late 1800s and has become one of my favorite razors.

I have a nephew who has started shaving with a straight razor and I will pass them on to him with the understanding that when the time comes he will pass them on and keep them in the family.