Find out what the local salvage yard will pay you for it. Then deduct what you figure it will cost you to haul it to the scrap yard and then deduct another 5%-10% just to be on the safe side, so you don't lose money on it.
Pop didn't fix it 'cause Pop didn't want to spend that much money on it, and now you have another 15 years of weathering and such to contend with. BTDT with one of my tractors years ago. About everything that wasn't shot at the time I fixed the motor, rusted through, broke, or fell apart over the next couple of years.
If you fix it for yourself, you might as well strip it to the bare frame and FIX it, and be prepared to spend whatever it takes, resale value be hanged.
If you intend to fix it and sell it, or part it out, I would be pretty cautious and look that thing over with a fine tooth comb.
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Today's Featured Article - Talk of the Town: The Saga of Grandpa's Tractor - by The following saga is from the Tractor Talk Discussion Forum. Someone. The saga starts with the following message: Hey guys I have a decision to make. I know what you all will probably suggest and it will probably agree with me way down inside, but here it is. I have a picture blown up and framed in my "tractor room" of a Farmall M. It was my Grandpa's tractor, of which whom I never got to meet. He froze to death getting this tractor out of the barn to pull a truck out of the ditch before I was born. Anyway my dad and aunt had to sell it at the auction,
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