I found an old auger bit in the sand. It was found in area where old wooden ships may have been a few centuries ago and so I was wondering if by chance this bit may be over about 400 years old. Maybe impossible to tell but thanks for any opinions.
I would give it a wire brushing and then soak it in Apple Cider Vinegar for a week. After that, if all the rust has fallen off, then wash it in cold water and then dry it either by sun light, or oven, then give it a WD-40 coating. Well done!!