With almost three million units sold, the first-generation Ford Mustang was quite popular, to say the least. Come 2022, and these 1964-to-1973 ponies are still very common overall, but certain versions are quite hard to find. The list obviously includes the beefed-up Shelby models, but the Cobra Jet is also a rare gem.
Ford introduced the mighty 428-cubic-inch (7.0-liter) CJ in 1968, making it the most powerful mill available in a non-Shelby Mustang. The engine carried over mostly unchanged through 1970 (in both Cobra Jet and Super Cobra Jet forms) and got a slight displacement increase to 429 cubic inches for 1971. With the Malaise Era around the corner, the powerplant was discontinued at the end of the model year.
While the Cobra Jet itself isn’t extremely rare overall, the 1968 Mustang fitted with the 428 is. That’s because only 2,097 cars left the assembly line with one of these mills under their hoods. And since many of them were raced, wrecked, and then abandoned, only a few of them are still around as original survivors.
The pony you see here is one of the lucky ones, and it was recently rescued after decades in a garage. And while it may be one of almost 2,100 R-Code Cobra Jet fastbacks built in 1968, this particular car is one of only 131 painted in Highland Green. Yup, this thing has “Steve McQueen” written all over it.
Not only that, but it was also ordered with a few rare options, like the GT Equipment Group (which added black bucket seats) and power steering. The former makes it a one-of-23 car, while the latter turns it into a one-of-3 gem. Needless to say, it’s pretty close to being unique.
Documented and rescued by classic car enthusiast Dennis Collins, this holy-grail Mustang was discovered in Tennessee. And according to the inspection stickers on its windshield, it hasn’t been registered since 1983. That’s a whopping 39 years off the road as of 2022.
But it’s in surprisingly good condition. Not only does it still sport the original Highland Green paint (which should shine again after a good scrub), but it’s all-original and mostly complete. Don’t let the missing wheels, grille, and hood fool you; they still exist.
The reason why the Mustang is partially dismantled is that the previous owner wanted to fix a few things. But life got in the way, and the R-Code just sat like that for years. The big question is if it’s a numbers-matching car. Well, it appears that the engine block was made in 1969, which means the original V8 was replaced. But it’s most likely a service replacement unit, which is the next best thing to a factory-mounted engine.
Yes, this car will need a lot of work before it can hit the road again, but it’s simply too rare and valuable to sit in a garage. And this move will result in a better home and a much-needed restoration. Hit the play button below to see it come out of storage after many years.