Rust bluing works, though it is too labor intensive for most modern folk. I have done a couple of pistol slides in rust blue, and would consider it again for a period piece.
Otherwise, I use Duracoat or Gunkote these days. Prior to 1937, the vast majority of blued long guns were rust blued. Most pistols were nitre, heat, or temper blued. (3 ways of basically saying the same thing, though not exactly).
I am not sure what finish they applied to your rifle originally. I do know it was not Duracoat.
I'll let some one else explain the economic consequences of re-finishing a collectible piece.
If it is reasonably close to original configuration I would probably rust blue it. If it was hopelessly butchered, then I might use Duracoat.