Naval Jelly will remove the rust before you spray paint it. <-- that was the concept.

To me, it looks to be very worthy of saving, now that you own it. With no paint, it will continue to degrade. Protect it cheaply until you can get it powder coated or properly repainted. If you decide to powder coat it, the rattle can paint will strip off very easily, having served its function in the interim.


Hmmm,...??? I thought you said you didn't want to spend any money on it. Powder coat costs money.