Is it worth the effort?

Is it worth the effort?
To begin with I am a user and not a collector.

I have a blade (without scales). The side of the blade has (etched/engraved) "WORLD'S COLUMBIAN EXPOSITION, CHICAGO 1893" and the picture of the buildings across most of the length of the blade. Also etched on the left end on the same side of the blade is "1492" and on the right "692". A faint image "BOKER" is on the tang. I have done a very rough removal of rust spots but the blade remains pitted. I will not be able to remove the pits without destroying the etching. There is a fair chance of obtaining an intact edge with a correct bevel and if so the blade could be a good shaver. In keeping with tradition I would probably rescale the blade with new tortoise shell celluloid. If it is a collectors item, I probably would not keep the razor.

Any suggestions? Is it worth the effort?

Picture would help. In general, there is nothing wrong with leaving things such as light pitting or tarnish. I happen to like my vintage razors with some character. As long as the pitting isn't in the edge it should hone up find. Also Bokers are great shavers.

I think only you can answer that. I regularly attempt to restore razors that aren't worth the effort. I do it so that someday, someone might call me a craftsman. If you just want to shave, no restoration is necessary IMHO. Buy one with scales, sharpen, shave..done. Or, buy one from a member, shave, done.

You are the only one that can answer this and if you have doubts, then it probably is not.
Would love to see photos, though.

I believe that is a fairly common razor. I know that when I used to watch razors on ebay I saw many of those Boker worlds fair commemoratives. I don't think yours would worth restoring as a collectible since there are so many out there in excellent or better original condition. Now if you want a good shaver Boker was right up there with the best of them as far as quality of steel and heat treatment go. If I was going to do something with it I would remove as much of the tarnish as I needed to feel comfortable and put as serviceable a set of scales on it as I could get cheaply. IOW, I wouldn't put any more $ in it than I had to to get it shaving. I wouldn't send it to Max or Glen for a restore. It wouldn't be worth that to me but YMMV.

A picture would help. As far as collector item, I say if you like it for your collection, then it is a collector. Whether it is highly sought after, well that depends on why they want it. Some collect for scales, some collect for blade condition or use and others gather for restoration purposes. Bokers are a well known maker and produce great shavers.