Storage of rebuilt 340 engine

I have a 1970 340 engine that is seized up and I am thinking of taking it to a shop to see if it is rebuildable. If I have it overhauled, can I store it for a long period of time without damage? I now have a 340 Demon with a stout engine but was thinking of keeping the seized engine for a spare or may decide to sell it at a later time.