>>1957287The first choice many people use is to just chuck them into a bin of vinegar or evaporust, which will certainly work, but imo looks like shit and removes the patina/protective layer of black oxide. I just take a sanding block, 80 grit sand paper, a bit of diesel, and spend time sanding the rust away until I'm happy with the balance between the fresh steel and the black pits beneath it. It takes a bit of time and effort but the end result is better than anything you'll get with vinegar unless you just really love the look of dull grey steel contrasted by the black tempered steel of the bit. Picrel is where I'm at with it so far, I'd say I'm about half way there. After im done sanding, I take the chips out of the edge with a file and work the cheeks until I have a bevel angle im happy with. After that I just sharpen it with whetstones and a strop. Usually on pitted heads ill polish the bevel to a mirror finish just because I like the contrast between the material behind it, but its purely cosmetic and goes away after you whip it into some wood. There's really no trick to it, just time and elbow grease. Leaving them in a pitted state is totally fine. I wipe all of my axes down with steel wool and 3in1 oil when they're being stored to prevent further rust (especially with the humidity in my area). Here's a link that will give you some details on Kelly.
http://www.yesteryearstools.com/Yesteryears%20Tools/Kelly%20Axe%20Mfg.%20Co.%20.html 