Cedar Chest Treasures

What is the best way to refinish the outside of a Cedar Chest?
I just moved into a new house and the owner left behind a Lane Cedar Chest (circa the 1950's or 60's by the look of the tag). It still has the original finish (light green paint), but I'd like to update it. Can I just paint the outside? Or is it better to stain? Can anyone walk me through step-by-step on what I should do? I've never done anything like this before, but want to do it right. Thanks!
Answer
A Lane cedar chest of that era is a collectors item. Don't refinish it yourself; have it professionally restored to maintain value.
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