I have one that my father bought for me that year when I was in the second grade. As far as the front sight hood it is easily removeable, just slide it forward, Be sure to keep in in a safe place, that hood by itself is quite valuable. At some point they changed and started making them with a flat top, and those old round top hoods I have seen go for around $100 on ebay. Looking at the blueing wear, I think I would clean and degrease the metal and apply a cold blue and simpley darken it up a bit.
In addition to the 52 model, I have two of the shorter Mountie models from the mid 50's and a 1897 Cowboy model from sometime in either the late 90's to early 2000's. It is one of the crossbolt safety models, straight grip, 24" tapered octagon barrel and it did have a rebounding hammer which I did not care for, so eliminated that. I did install a Marbles tang sight on it. The three older ones have original Marlin tip off scope mounts installed and the Mounties have old Weaver 2.5 and 3x K model scopes installed, along with Lyman receiver sights tucked under the scopes, scopes are in quick detacheable mounts so I can have either irons or scopes quickly.