I'd say if this is the only blemish to the arm, the rest being in good to excellent original condition: leave it alone. My reason being the removal of the property mark has historical significance in and of itself and restoring the lettering would add no particular value and probably detract further from the piece. On the other hand, if it is a well worn example, have at it, as a full restoration won't make it worth any less than its present value.
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"There are three reasons to own a gun: To protect yourself and your family, to hunt dangerous and delicious animals, and to keep the King of England out of your face." รข?? Krusty the Clown
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