Refinishing a stock?

Well, unless your stain is one of those "all in one" products, you'll be missing the oil finish, varnish or lacquer that seals the stock.

What kind of finish do you want when you're done?
 
Most decent stock don't really need stain. The color of the wood itself is what shines through. For a "working gun", my favorite finish is Minwax Tung Oil Finish. It is a wiping varnish with good durability and repairability. Build it up in about half dozen really light coats at least 24 hours apart. Use steel wool and a tack cloth to wipe off the nubs between coats.
 
Your stock may be a smaller piece of wood compared to a end table or dining room set , but it is a fine piece of wood and should be treated as such.

Yes finishing can be boiled down to a few simple steps, BUT those steps are more involved than most people think. Your sanding a piece that has many curves and sharp edges. The inletting areas require special care. The over all condition of the wood will tell you what grades of sanding paper to use.

The final finish can be anything from a spray on poly to many hand rubbed coats of a oil finish.
Start reading about stock finishing and you will find more ways to refinish a stock than there are chances in the lottery.
 
To get an idea of how it will look with no stain dampen, not soak the wood with water. Most walnut will look good with no stain. Be sure to let dry throughly. As others mentioned you will need to seal the wood. Seal all bare wood. The object is to keep out moisture. I like tru-oil myself. Apply enough light coats so little or no orange peel texture is visible. 4/0 steel wool between dry coats and a coat of johnsons paste floor wax as a top coat over a lightly steel wooled coat of oil finish. Do not rush the job.
 
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