Exterior pits can be filled and filed by a micro welding technique, the same way molds are repaired. Here is a B which had one of the bolsters badly corroded and which was weld filled , filed and re-engraved so that the repair is imperceptible.
Exterior pits in barrels , fluid or Damascus are easy in comparison and regularly corrected.
Reconstruction of this gun will be a costly and lengthy process requiring the owner's patience and pocketbook and a master gunsmith's expertise. There are also several stockmakers that could do the project. A nice stick of thinshell walnut will run $1000 to maybe $1500 that is appropriate for the grade then maybe a year or two for the woodwork.
Mr. Butler's estimate may be close on the low side. Done right, the finished gun should be worth in excess of $15,000. Done wrong, its a do over.
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