Give it a few good squirts with an oil can. Flatten the tip a bit to get in the seams. You can use a single edge razor blade to force the oil into the cracks. You can try to hammer that pin down just enough to clear the top and hit it with some oil.

Give it a few good squirts with an oil can. Flatten the tip a bit to get in the seams. You can use a single edge razor blade to force the oil into the cracks. You can try to tap that pin down to see if it moves just enough to clear the top and hit it with some oil.