How to remove a pick-list value as a selectable option, but still be able to keep it in old Records
Why would I want to "archive" a Field value?
There are times when it is useful to no longer allow a particular Field value to be selected any longer, but you want to retain and report on the historically created data.
For example, your company may have a ‘Region’ Select list, but no longer operate in Europe. In that case, you can archive the Europe value so that users can no longer select it on a Record, but still see it in Reports.
How to archive Select Values
To archive a Field value, edit the Field with the value. In the "Select Values" tab, click the Eye icon next to the value you wish to archive. This will remove the value from the list of selectable options going forward.
How to unarchive Select Values
In the future, if you ever want to return an archived value to the list of selectable options, simply click on the pale Eye icon to the right of the value to unarchive it.