Dry, one I had not shot in likely 20 years, got me a few weeks ago... I never even checked.. handed it to our God child and it didn't work right.... WTF, its a colt gun and you know those are worth every penny and work right ALL the time... way better than a damn RRA... LOL.
It was dry... I guess the lube went away over the years.... and probably some dust around too..
Lubed it with oil, I think I had some 5/20 synthetic in the mule... all was fine...