This is quite common and no big deal, , the letters and serial numbers, folks use a product called Bonanza and it can be gold or silver (maybe other colors) and will clean out using acetone or nail polish remover and a soft brush, toothbrush, whatever, and this will NOT harm the bluing in any way, too aggressive rubbing with steel wool or something like a wire brush and yes, you can mar, the bluing, take it off........
as for the front sight,the acetone should work but maybe paint thinner or such, all depends on just what they may have used to "paint" ( coat) the blade with....you can always touch up the blade itself with a bit of cold blue, like '44-40', just make sure you neutralize ANY cold blue that you may use...............
if you had it over here, it would have been done already, faster and easier to do than type out all the info. :roll: