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Your post is not too clear, what exactly do you want to know? Since as far as I know wrought iron is esentialy unavalible these days it's hard to compare it and low carbon steel. Wrought iron was generaly considered much more durable when exposed to weather than low carbon steel, but there are alloy steels that weather well, and some modern paints are pretty durable. If one was trying to decide whether or not to replace old iron with new steel, I'd think other factors would be more important than the material, historic value if any, the fact that hand work is more expensive now than in the past.
Jay
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