40S JUNK OR JEWEL?

I purchased a 1955 Model 40S without checking it out first. I only had a single photo to look at, which didn't reveal much about the tractor, and when I got it home I discovered the engine and clutch are stuck solid, but to my surprise it is an All Fuel model with it shutters, little tank, and fuel valve in tact and unmolested. I've never seen an All Fuel 40S. The tractor appears to have been worked hard all its life, as evidenced by the wear around the 3PT hitch area. It doesn't appear to have ever been disassembled other than the PTO housing having evidence of RTV being used as a gasket. Anyway, my concern is that since the engine and who knows what else will definately have to be overhauled, is a 40S worth the expense of a total restoration? I was hoping to get a tractor for garden work that wouldn't require a new engine. I knew the tractor hadn't run in 4 years, but thought that a little tinkering would bring it back to life. Does the fact that it is an All Fuel add any value that would justify the expense of a restoration? What do you think, is it Junk or a Jewel?
 
You may be able to just resell it like it is for a profit and then find another tractor to use as that all fuel should be really rare.
 
You may be able to just resell it like it is for a profit and then find another tractor to use as that all fuel should be really rare.
 
Jewel... a diamond in the rough, just think of your accomplishment when you get the resto done. It may not be as bad as you think.
 
I would take the time to rebuild that old girl. As previously stated all-fuel Dubuque builts are not all that common and overhauling the M class engine and clutch is not all that expensive in the overall scheme of the tractor world. My M was in about the same condition you described. I spent about $600 overhauling the engine and about $300 on the clutch and new wiring, radiator cleaning, starter and generator repair. 2 years ago I spent about $150 and built a 3 point hitch for it and it is the handiest little tractor to have around.
I've turned down 2X what I have invested on 3 occasions.
 
I have a 40w that came the way of a pair of parts tractors to make one. The 40 turned out to be the handyest I have. I bought a 5 foot finish mower for it that works real well.
 
I won't pretend to be an expert on what you should do with it, but there weren't many all-fuel "40" tractors made, as has been said before.

There were a total of about 49,000 "40" tractors built. Of these, about 12,000 were "40S" models. Of those, about 650 were all-fuel. Of that number, about 400 were sold in the U.S and Canada.

Do the math...about 0.8% of the total "40" tractors were all-fuel and sold in the U.S/Canada (if my math is wrong, I hope somebody corrects it). Of the "S" models, about 3.4% were all-fuel and sold in the U.S./Canada.

Stan
 
I knew I could count on the advice and encouragement from this Discussion Fourm. I've never totally restored a tractor before, but I have done lots of maintenance and repair work on tractors and antique cars & trucks, so I think I'll give this one a shot at making it new again. I'm sure there will be many questions to come before I finish this job. If I can figure out how to post a picture, I'll let y'all see what I'm starting with.
 
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