Ford 3000 diesel

I have acquired a 1966 ford 3000 select-o-speed diesel project. It came from an older fellow in my community who has had it for 25 plus years. All its been used for is finish mowing. While mowing one afternoon it started missing real bad, then a big puff of white smoke. He immediately shut it down and called it a day. Next day he pulled it back to the barn and started working on it. Long story short I picked it up in a few pieces (LOL) and discovered a broken ring, severally scared cylinder wall and a hole in a piston. I was hoping it was a blown head gasket. My question.... Is the tractor worth sinking money into or selling it for a parts tractor. I'm not too familiar with the select-O-speed transmission but he said it never gave him any trouble. It's defiantly going to need to be bored. Would you try to save it or sell it as a parts tractor.
 
Sounds like it ran fine for a long time and it sounds like you may have acquired it cheap so I would rebuild it and have a great tractor when you are finished.
 
Parts are plentiful and reasonable (not cheap). I would not hesitate to fix it and run it. I recently sold a pair of running 4000's (both with loaders); I got six calls the first day and sold them to caller #1 and #2. Contacts kept on coming until I took the ad down.
 
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