How do you treat rust?

[amecks]

Usually when I get a wrench, pliers or whatever tool, I will head to the wire wheels and buff them til smooth.  This is good enough for most tools.  But now I have a wrench that is collectible - yeah I gave in and bought the Indian adjustable, I was the only bidder, surprisingly.  The photos show a wrench covered with an even layer of rust, hopefully with little to no pitting.  What is the best way to preserve this tool?  If I go the wire wheel route it may clean up but rust again.  I would like to have a clean usable wrench.  Is using Ospho (phosphoric acid solution) a possibility?  It is supposed to turn rust black and deactivate it.  A black finish would be desirable.  I would probably then want to coat it - maybe hand rubbed linseed oil?
Thanks
Al

[geneg]

Your photo didn't load or me.  Strictly my opinion-- don't use vinegar or anything that cleans it to white metal.  Soak it in kerosene, atf, marvel mystery oil, or mineral spirits to get rid of the oily grease.  If you like the look great.  If you want something cleaner, use simple green or even dish soap.  Hot water rinse blow dry.  Then coat with boiled lindseed oil, clear satin spray or whatever finish you prefer.  It will look like an old tool with patina, won't rust, & can be solvent removed if you want to.  Buffing or wire wheels are too invasive for my preference on a real vintage piece.  I do use a brass brush to help clean the gunk.

[d42jeep]

I am a big fan of Evaporust. I try to avoid the power wire wheel when I can. The evaporust results in converting the rust to a dark residue which comes off easily with a small hand wire brush. To prevent future rust I use Fluid Film, a lanolin based product invented during WW2.
-Don

[geneg]

I too like evaporust, wd-40 also has an equal product.  They both work better & last longer if you remove the grease/oil first.  Also have used an old crock pot on low heat for the cleaning process.  I hadn't thought of fluid film for tools, but I do use it on vehicle undercarriages, trailers, & equipment.

[Bill Houghton]

If you want black, then Ospho is your friend.  Phosphoric acid, the active ingredient in Ospho, combines with rust to make ferric phosphate, generally dark or black.

Suggestion #1: this is a valuable tool.  Find a less valuable, also rusty, tool, and try it out on that first; see what you think.

Suggestion #2, if you go this route: Clean the tool off - loose rust, dirt, spider webs - then apply the (very low viscosity) Ospho, let it sit for a bit, then gently rub off any excess.  This will result in a smoother finish than if you leave puddles of it on the tool.

[amecks]

Thank you all for the detailed suggestions.  I may use a hand brass wire brush but no wire wheel.  I have grabbed a couple small rustyy pices with similar rust as on the wrench.  These have a test coat of Ospho.  I don't have Evaporust or Fluid Film on hand, but will research them. 
The photos in the ebay ad are not the best but it appears to be a clean tool(not greasy or oily), and seems to have an even coating of rust with no scaling or pitting.  Hope this is so.  It should arrive early next week.  Wait!  It looks like it may be here tomorrow.
Thanks everyone for the great advice.  I promise to be careful and will post results.
Al

[lptools]

Hello, Al. Feel free to give me a call, or send a message. I have Evaporust and Fluid Film here. I have put wrenches that size in a tumbler with ceramic media and Simple Green. The results  from the tumbler cleaning are exceptional!! Rust removed, aged look to the metal retained!!

[amecks]

The wrench arrived quickly. It looks better in person than in the photos. It will take vey little effort to clean it.  Here's what it looks like as received.

[amecks]

I used a combination of the above suggestions. Soap, brass wire brush, Ospho for several minutes. water rinse, then Boiled Linseed Oil.  Blowing with compressed air after all steps, finally cleaning with a nice rag.  The Ospho did blacken it a bit, giving it the look I was going for.
Thanks again for all the help.
Oh yeah, notice the "M" at the top of the wrench.  Could this be a Moore wrench?  Alloy Artifacts states that Moore began in Springfield, MA - the same city as Indian motorcycles.

[d42jeep]

Cool wrench! Generally Moore drop forge tools are marked with an M in a circle. In the Moore drop forge section, Alloy Artifacts suggests that the M without the circle was likely made by another company.
-Don

[p_toad]

nice looking wrench.   i'm partial to brass wire wheel for cleaning....  it's effective and doesn't rip your skin off if you get a finger in the wheel (I don't like wearing gloves around spinning tools).
real brass wire wheels are NOT inexpensive unless you get lucky and find some.

[amecks]

I used a hand brass wire brush very lightly.  The rust was minimal and the hand brushing worked.
Some of the wire wheels I have are cheap brass plated ones.  Don't know for sure if I have an actual brass wheel.

I checked two Ford adjustables that I have and both have an "M"  (without a circle).  Who made the Ford wrenches? - they almost surely made this Indian wrench.
Al

Update - two more wrenches, reasonably priced, just appeared on ebay.  One has the "M" as mine does.  The other has no maker mark - and the wrench is obviously a different maker than "M" - it looks OK but the "M" has a slightly cleaner design.