It's a very easy process.
Strip the paint off, polish up with 0000 steel wool, and clean thoroughly with hot soapy water.
Apply cold blueing paste and leave it on for about a minute, then wipe it down under cool running water with a clean sponge.
Repeat blueing process until you get it the color you like.
It may take 2 or more applications to get the finish to where you like it.

A model airplane clearcoat overcoat usually suffices to protect the finish.

BTW - Different brands of cold blue ( Brownell's Oxphy-Blue/Birchwood-Casey/.44-40/etc) will give different colors/results - so if one brand results in a look that's less than satisfactory, just reduex with another brand.

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Wow, that is easy and it looks very authentic.

Thanks sir!

How far did you disassemble the rifle?

The receiver on a Henry has a cover, no serious disassembly is necessary.

http://www.henryrepeating.com/pdf/lever_action_manual.pdf

There's only five (5) common screws associated with removal of the Henry receiver cover - two on the lower edge of each side, and the top tang screw that holds the buttstock on.

With the screws out, and the buttstock gently tapped off towards the rear, the receiver cover is wriggled upward, away/off the receiver.

Take care, that the bolt (which sometimes "sticks" inside the cover's roof/ceiling) stays atop the action, ILO dropping out on the floor, etc.

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I priced a golden boy in WMR ... $475 ... little salty for me. If I'm spending that coin, I'd rather use it as a down payment on a 1894m OR a 9422M

NICE!!!!!!!!!!!!!

I like mine.
Cats hate it though.

I bought a henry 22 mag lever in like new condition for $300 last summer.Damn things a tack driver.