Working as a metals and jewelry shop monitor at an educational institution means frequently fixing damaged tools. Inexperienced students, as expected, often make mistakes that result in damaged tools and equipment.
The items that require the most attention are hammers, stakes, and anvils, although no tool is exempt from damage.
To fix a dented stake, begin by planishing dents to a more uniform surface. This process smooths out the dents by using a hammer. If there are numerous dents, or if the dents are deep, this is a time consuming process.
Once the planishing is satisfactory, we sand down the surface to restore a smooth, even finish on the stake. Usually I prefer to use an orbital sander, however a belt sander works extremely well on anvil tops.
The final step in the refinish process is to apply 3n1 oil to the surface. A very thin coat protects against rust while the stake is not in use.
Of course the best way to care for your tools, is not to mess them up in the first place. The more often you fix the surface, the less like the original it becomes.