Sorry, I don't remember exactly where I found this .gif file on Tumbler but I need to share it here. This is a badly degraded faded and color shifted photo that someone saved. How would you do this in GIMP?

If you post the initial image (source) and the final result, maybe someone can more easily figure out the technique(s) to be applied in Gimp.

Edit: sorry for the stupid request, I tought it was a video, but it's a .gif, so initial and final are there

The technique is all described. Nothing earth-shattering. Since the picture is yellowish (not colorshifted, since it is B&W...), you take the blue channel which is where you get the more contrast. But the picture isn't a very hard one, just a bit faded, no scratches, no creases, no silver migration... And at the end the eyes look weird and Mom looks like Booder.

Class of 1962, not so saint anymore
I see some details got wiped off in the process. Looks like Richard was popular name in early 60s.