I have a 22 caliber model 342 Benjamin air rifle that I inherited from my father that needs repair. I`ve used it for years, but lately it won`t hold air pressure. Help.

Try google

Savage Model 19H 22 Hornet Bolt Action Rifle

From what I could find your gun was made 1933 - 1942

By what I`ve seen it would be well worth doing some more research..Might be quite valuable..Have a good New Years Pete

Contact the authorized repair facility in your area. It is listed in the back of the manual By Blue Streak I am assuming you have a C9 which is .20 caliber. They will direct you as to what can be done to fix or repair your air gun. I have a Benjamin Sheridan C9 Blue Streak from circa "95" when they still ad walnut stocks. I have shot maybe 20 pellets out of the 500 rounds in the red Diablo pellet box I bought with it. Paid a hefty $170 or so for it new. It is still like new. Bought a Beeman .177/.22 switch barrel barrel cocker. I hate all the pumping.

Take it to your local gun shop.

WalMart carries a nice 22 caliber air rifle by Crossman. They also carry the 22 caliber pellets. 1200 fps for this rifle should take care of your varmints.

Crosman bought out benjamin / sheridan, and they still repair just all their pump guns. The ring sounds like a piece of a pellet, the barrels are silver soldered to the bottom tube, Not lead. Also, the repair kit should not have too many parts, you can only go so far with those guns before needing special equipment to get them apart. Get a hold of Crosman and tell them that benjamin sent you a bad part. They should fix it.
I had an old Benjamin Franklin in .22 cal, it was just a brass tube with a stock and barrel. I sent it to them, to be repaired, and I wanted the .22, because I had the 5mm and the 177. So I got it back, cost $29, New barrel, in .177, soldered on, new guts, new paint, trigger, bolt, the works.. Brand new gun. I told them I wanted the brass and I wanted the .22, They said oops, sorry. I didn't complain, nice old gun. Hope this helps.

Springs tend to loose their performance after a few years is air rifles. Check also the seal/o rings on the piston rod and the blow hole. I found waxing it with Vaseline makes it last longer and seals more.

I recently purchased a rebuild kit for my 342. I bought the kit from airgundepot. It was the kit for the
392 and I modified it a little. On the new plunger, you have to drill a hole in the center of it the same
size as the pin's smallest diameter. You can use all of the parts in this kit except for the small o-ring. I think it sold for about 39 dollars or so. My rifle was manufactured in 1972 and it fires like new.