Hoyt Buck produced the first Buck Knife in 1902. Hoyt and his son Al moved to San Diego and set up shop as H.H. Buck & Son in 1947. Al Buck revolutionized the knife industry in 1964 with the infamous Model 110 Folding Hunter. The company's innovative history and attention to quality have made for many great collectible knives.
value is around $30.00-$40.00 or so (with original box a tad higher) and I like mineral oil. A lot of gun oils have petroleum distilllate in them.
Since it was your grandfathers it should be priceless to YOU.
Todays value can best be determend by watching a few sell on Ebay or by checking the past auctions there. As far as for oil, that would depend on if you are going to use it or store it and where. I personally dont use any oil on my knives as it attracks dust. I just keep them clean and dry and have not had any problems with rust. Im certain you will get other opinions. There are alot of great folks here that are willing to help when needed! Tim
You have a Camillus made Buck 303 Cadet. Made from 1974 to 1985. This was the last version made by Camillus of the 303. In late 85 Buck took over with in-house production of 303,301,309 and 305. These versions came in two variations, one with a single brass spacer behind the reverse scale and one with two spacers. The second spacer was to give more room in the blade well for the crinked blades (bent) that ran off one spring. Lots of these were made with special order printing on the blade for companies as give-aways.
Some people use 'A' drop of mineral oil, some use 3 in 1 oil. I use "A" drop of Break-free or Rem-oil. Mineral oil or floor wax for the black scale material which is called 'Delrin'.
This version was made in large numbers and they can be encountered on auction sites frequently. Yours appears pocket worn on the shield but blades look like they were sharpened well and are relatively full. As they say on educational TV, for insurance purposes I would put a value on it of $35.
300Bucks