Well, one way opr another i would say that you must attend to the rust problem as it will only get worse on it's own, not better. I have never tried covering with varnish, but it might be successful. For me, preserving the iron from further destruction through rust is more important than saving the last bits of gold. Trying the varnish may indeed be a good solution. There doesn't seem to be much rust where the last bits of gold are on top of the gonjo.
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