If the tractor pulls the occasional float, rides a tractor tour, jaunt down to the mail box, starts & runs OK, or other things "in retirement", that will drive one decision.
If the tractor is at work, and possibly needs a little more oomf to get the work done, that will drive another decision.
If your tractor is in retirement, holds reasonable oil pressure, burns a little oil, thus using 2 quarts of oil per year, and a set of spark plugs, you can buy a lot of these over the years to realize the cost saving of a rebuild.
On several of my tractors, re-ringing it brings back a lot of lost life for little dollars.
Many people spend a lot of dollars to rebuild tractors to near new, then let them sit in the barn other than a few hours each year running around at tractor shows. Kinda of a waste in my eyes, but if you have the dollars, I can't tell you what to do with them.
Guess it all depends on what you really need for your tractor to do.
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Today's Featured Article - Harvestin Hay: The Early Years (Part 2) - by Pat Browning. The summer of 1950 was the start of a new era in farming for our family. I was thirteen, and Kathy (my oldest sister) was seven. At this age, I believed tractor farming was the only way, hot stuff -- and given a chance I probably would have used the tractor, Dad's first, a 1936 Model "A" John Deere, to go bring in the cows! And I think Dad was ready for some automation too. And so it was that we acquired a good, used J. I. Case, wire tie hay baler. In addition to a person to drive th
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