LPS 3.,not 2,,not 1,, LPS 3 on all the iron parts.
Your gonna have to dis-assemble the thing if you want to stop ALL the decay. We don't know what kind of moisture it's been around so it's tough to say on-line.
Use a proper fitting screwdriver for each of the lock bolts and tang screw and take'm out,,(i said proper fittin) when they stop turning loose,use a padded vise or plieres to pull,,,open the darn thing up! (You did say "wall hanger" didn't ya!).
Remove all the wedding rings,if it's gott'm,,hold the barrel an fore stock in your left hand and drop the butt near the breech on your knee whilst holdn the wrist. This is an attempt at removing the barrel,(follow so far?) Work it loose then punch out the lock,, ,,,
See Andy, you've asked kind of a blanket question here,, theres lot's more!! I'd use poly urethane to preserve the wood stock on internal areas,yet not apply any to external so as to preserve the original finish.
I re-firbed an 1838 original,, 1839 conversion potsdam from garage sale to shooting,,,it can be done. But i'm not sure if folks that answer questions like,,"What powder charge should I use?" and/or "Is 50 better than 45?" ,,,can really help?
That aughta stir'm up a bit!! It's been a might slow around here latley anyways!!!
What kinnda gun is it! anyways!! You mean to say with the WWW.com,,available at your finger tips,all you can say is "grand pa's gun"!
Don't it got marks on it,,or it "looks like",,etc.etc,,,,,