Hi,
I recently purchased a nice 1885 low wall.  The barrel was in great shape as was the blueing.  The action on the other hand was completely bright ! no finish blue or case color on the outside  ( no evidence of polishing).  There appears to be some reminent case color on the inside but I'm not sure.  The sn is in range of 107,xxx .   I am wondering if the action is nickel steel ?  and the finish has just flaked off.  I've seen this in other Winchesters ( 94's) and was wondering if that was the case with the 85's ??

Any insight would be a great help.

Thanks

Jt

Somehow I doubt your action is nickel steel. I do believe some of the barrels were Ni steel but you'd have to check J. Campbells books. 
As far as I know the later low walls were 1522. Certainly true by the 13x,xxx. By contrast the early hi-walls were 1008 and i assume the early low-walls followed suit. The color case on all of them AFIK was pretty thin; just enough to give surface color but not much real strength/hardness. 
Is it possible your action is Ni plated?
Not having an real evidence I guess as well as the next guy. 

Check the permeability of your Action with a magnet against the Barrel (Ni has low magnetizem)... Use a mild magnet to compare the two...   

Good Luck !!!

From what I remember from Campbell's first book, flaking bluing isn't uncommon.  I have an original blued rifle with close coupled double set triggers and some of the bluing has flaked off.   

Chris.