1947 Hobbs of Barbican Clubweight Build and many other old builds

Thanks Rik,
Will make sure it dries between coats!

I have used shellac for furniture work, and it dries really quickly, at least in the Australian climate.
As long as it has dried enough not to be fully dissolved by the subsequent coat it is good.
I have done some handlebars. By the time I finished with one coat I could start the next.
I would suggest going with a few coats, then you can always top it up later as you need to or to refresh the finish.