Best Of

I agree price is crazy. I can remember buying 275s at a tank MFG on Cherry Street in East Hartford. When you went to pick them up he would ask "MA. or CT" and then tack weld the appropriate tag on the tank then hit that spot with black spray paint. I am sure they were never pressure tested as they were supposed to be.

Price was either $50/tank or $75/tank can't remember. We would load 4 on a pick up truck and head back to Springfield.

Two things I have not noticed in any comments

1. Oil tanks can rot away from the inside. That is the usual way a basement tank starts to leak since the outside of the tank is protected from the weather. That said, removing the tank bottom deposits and sludge from the bottom may expose some pin holes that are being blocked or plugged up by that sludge. Spending $$$ to clean a tank may clean the leaks out and then you need a new tank ASAP!
2. Never put any oil from your old tank back into your new tank!!! So plan on running out of oil the day you are getting your new tank. Any combination of sludge and oil that is left in the old tank needs to be disposed of. Don't try to save a few dollars by putting 60 years of oil problems in your brand new tank.

Additionally, consider a double wall plastic tank like the Roth or Granby offerings.

@ChrisJ I think the OP mentioned he had the side outlet for the oil and no one pitched tanks back in the old days.

Big question in my mind if those things even help but can't hurt.

To prevent sludge I used to promote a two pipe system to constantly filter the oil. But I am by myself on that one . For some reason everyone thinks a two pipe system is death. Leak in the return line is the only comment I get which I find crazy

Run to failure..unless you have extra disposal income....Mad Dog

If it's not broke don't fix it.

Get quotes on new boilers (you will be shocked). Then start saving. Do an accurate heat loss and get the right size equipment and the right contractor.

Consider an Energy Kinetics boiler.