Hi,
I wouldn’t laminate it. I think that acid free paper is the best bet, I have seen envelopes which might be the best bet. Exposure to light is likely to deteriorate it so a frame is perhaps not the best.
If you want to display, I would suggest a good digital photograph and printed on good paper, perhaps professionally.
Ideas change! Prompted by your question, I looked at how to look preserve leather, the seems to be some thought now to just box and leave. Though there are dressings which are use by some libraries, obviously a bit of a minefield!