First of all, I want to commend Louie (
@monophoto) for his great writeup about oil finishes. You can't argue with what he wrote, but I would like to add minor clarifications about linseed oil.
Reminding you of what Louie said above - He said that linseed oil is one of the ... "'drying oils' in that they will eventually (some faster than others) combine with oxygen to 'polymerize', or cure to a hard, plastic-like finish."
What I want to add is that there are multiple types of linseed oils used for finishes. It is important to know the differences, and not confuse them:
Raw Linseed Oil - This is sold as flaxseed oil and is sometimes used for cooking. I use it to season cast iron pans. You can use it to finish wood, but it takes many weeks or longer to dry, and the linseed oil is likely to go rancid during that time.
Don't bother with raw linseed oil as a finish.
Boiled Linseed Oil (Ancient) - Back in Medieval times, people heated linseed oil
with a lead compound. The additive helped the wood finish to dry faster. It was called "boiled linseed oil" and the name stuck. It is probably the same stuff they poured on invading marauders from the top of the castle walls. Lead is bad for you, which is why they don't use it in wood finishes any longer.
Boiled Linseed Oil with Toxic Metallic Driers - This type is the common, inexpensive linseed oil finish sold in metal cans and used in many other finishing products.
Because of the metallic driers, most linseed oil finishes are not food safe! Do not use it on salad bowls, cutting boards, wood utensils, baby toys, etc! This type of boiled linseed oil finish is safe to use on pens, wood furniture, and other wood projects that do not have direct food contact.
Heat-Treated, Food-Safe, Linseed Oil Finishes - Another type of linseed oil finish relies on special heat-treating processes. Metallic driers and other toxic additives are strictly avoided. The companies that produce these finishes keep their "proprietary" heat-treating processes a secret, like the recipe for Coca Cola or the Colonel's 11 herbs and spices. They are often sold as fancy, expensive, "boutique" oil finishes. Examples include "Tried and True" and "Odie's Oil."
I tried various oil finishes on scraps, and they all look pretty much the same. I use the fancy heat-treated, food-safe finishes on bowls and baby toys, but the cheap stuff with metallic driers on everything else that doesn't need "food-safe" protection.