Here's an easy and inexpensive way to remove green saltwater corrosion on the chrome and other metal parts of an old reel.

1. Disassemble the reel as necessary and remove the metal parts that need cleaning.

2. Use any spray solvent to remove any old grease or oil, and give them a quick wipe dry.

3. Fill an old glass or plastic bowl with White Vinegar. Be sure the bowl is large enough to accept the parts you need to clean. The bottom of a cutoff two quart milk jug will do nicely. DO NOT use a metal container. 

4.  Immerse the parts into the bowl, making sure that the vinegar covers the parts completely.

5.  Add a small amount (1 teaspoon or so) of Baking Soda to the vinegar in the bowl.  NOTE:  This is going to fizz up quite a bit, so I would suggest that you do this in the garage instead of on the kitchen counter. 

6.  Let it sit overnight (at least 8 hours)so that the vinegar mixture can work it's magic.

The vinegar mixture will soften and/or dissolve the bulk of the green corrosion on the metal. Most of the residue will now wipe off with a paper towel, but if the corrosion was very heavy, a little buffing with very fine steel wool will soon take care of the trouble spots. Rinse off the parts with fresh water, dry well and lightly oil or spray with silicone to prevent further corrosion, and reassemble the reel.

The chrome parts that have been damaged from the corrosion will still have "freckles", but it will be corrosion free and will allow that old favorite reel of yours to catch a lot more fish before you finally retire it.