No , I say olive oil is for salads and not coins . :lol: clean it as best you can with a dry tooth brush or tooth pick as you want to see what color the actual metal is. reddish is usually a flag to tell you it has a rough exposed surface and to proceed at your own risk . Meaning there is significant damage and while you may get the dirt off you may also lose detail. Ideally you want to see a nice green or light brown chocolate patina ,this tells you that the surface of the coin should be more stable and intact to clean and get much detail. Once your happy with the cleaning then you can use renaissance wax , a small dab of Vaseline or just a bit of light metal oil or mineral oil to keep it looking nice.
Dan