I read a ton of the old threads about finishing the old boxes. I had just cut a 3" hole out of an old box for the 3" speaker and I thought, hey, I can do the test. Here it is:
The circle has 3 coats of tung oil, applied with a paper towel in probably 50 degree basement chill and left to sit about 24 hours per coat.
I do like the look but just in case you were wondering, there you are!
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Also keep in mind that older/drier wood will soak up a lot of the oil and make the wood dark in color. If you want to keep the wood the same color, use spray on clear.
I love using Tung Oil or Tru-oil(for gunstocks). It will add a amber tint, but the Tung Oil is a tad lighter.
Multiple thin coats with a few hours drying time between coats is best. The best way to apply that I've found, is using a cheap hard texture paper towel. It keeps any streaking to a minimum and you throw them away after.
Remember that if you leave any of this stuff on a rag or paper towel in the sun, it can flame up on you.
Hey, thanks Paul. You defiantly lose the antique look but it might last another 50 years with the extra protection. I think in most cases I'd go with the tung oil.