Welcome to Quilting Board. I only have a few hand cranks. I'm pretty sure the pin in the handle is press fit and not screwed on. I have one that there was a replacement handle was put on and as cranking it loosens the screw, so have to stop and tighten. I'm not sure about oiling wood. Hopefully, someone will be along shortly to help with this.
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Janey - Neat people never make the exciting discoveries I do.