Wow, so this rifle left the factory in the white? Wacky.
Don't worry, I'm not going to sand it. I like the brownish patina it has picked up over the last 150 years or so. I'll just wipe a little oil on it from time to time as my ancestors did.
I'm not too worried about replacing the rear sight, for all I know my grandfather's grandfather took it off on purpose so he could use it as a shotgun or with buck-n-ball. The twist is so slow I bet it would have thrown an ok pattern.
I may look into having the lockwork fixed eventually, but there's no rush.
Thanks for the info everyone.