I would rebind it. The original fabric is worn and I would imagine that new areas will continue to show up and need work. So, make it unified and rebind it.

Rebind over the old. Why make more work for yourself.

I would remove the old and rebind with new. It would feel odd like having cording on the edges if you rebind over the old.

I would inspect the rest of the binding to see what shape it is in first - then decide whether to repair or replace. Can always repair now - replace later if necessary.

Thank you All.
It was one of my first quilts and I probably messed up in that area.
Based on your great responses, I think I will repair it now, and if more pop up, replace it then.

Thanks again
Mike

I would rebind it with bias binding. And, I would think about just doing it over the binding that is on there now and that way you will have double protection all around the quilt and won't lose any of the size. Of course, the binding will be larger than normal and some folks don't like that at all. It's just a personal decision.

If the quilt is one that is used often and perhaps falls in the category of "utility" quilt, I would bind splice in a new piece. Take a look, careful look all around the quilt and if there is any indication that there is other wear on the binding, I would replace the whole thing perhaps using a bias binding that seems to wear better. A well loved quilt is a wonderful thing.

put a NEW BINDING! a lot better!

A friend was trying to take off a binding to put on a new one. The old one needed replacing. She was working on taking the binding off when I said, "Why don't you just cut it off?" In about two seconds, she had her ruler and cutter out and in about five minutes the old binding was GONE. Then it was easy to put on new binding.

You would lose points with this method - if there were points on the edge - but it sure is fast and easy. With an old quilt, you may not care any more about losing points or not.

I would take off the old binding and make a new binding.