Yes, that title is a bit confusing – more on that to follow. What we do have here is a genuine 1969 Ford Cobra, a two-door performance model based on the Torino/Fairlane intermediate model. It’s clearly a barn find and as the seller suggests, “This desirable classic is in need of a complete rebuild. Rust has taken its toll from sitting so definitely a plus for the new owner who has bodywork skills. Expect you will need lots of attention in this mechanical rebuild even though it is all there it does not run.” OK, I’m intrigued so let’s take a deep dive and see what’s here. Jacksonville, Florida is where you’ll find this needy Ford hot rod, it’s available, here on eBay for a BIN price of $12,500, OBO.

According to Hemmings, there were 14,885 Ford Cobras assembled in ’69 with the total divided across both the fastback SportRoof body style and the more formal hardtop such as our subject car. It was originally envisioned as a “budget” muscle car with a $3,139 base (before options) price. Unlike the Torino GT, where engine selectivity spanned the gamut, the Cobra’s big claim was its standard 335 gross HP 428 CI V8 engine.

Unfortunately, the years have rolled up on this Cobra while it has spent an extended stay in a barn – it looks rode hard and put away wet. There is evidence of surface rust and rust-through, and one can only imagine the condition of the underside considering that the floors, in places, are rotted away. It appears that this Cobra was originally finished in code T (Candy Apple Red) but that attractive shade was slathered over some time ago with a thin coating of gray primer. As for missing parts, the trunk is packed with items that may or may not be useable

To address the elephant in the room, the original 428 CI V8 engine has been replaced by a 410 CI powerplant, a Mercury offering from the mid-sixties. It’s an FE architecture design, not the 410 MEL motor that FoMoCo brought to market in the late fifties. This non-runner is topped with C8AE H heads which will likely mean something to you Ford fans. Backing up the moribund motor is a four-speed manual “Top Loader” transmission and a 9″ rear axle.

The bucket seat-equipped interior is a jumble of dust, debris, rust, fallen floors, and a gravity-challenged headliner. The seller sums it up by stating, “You’ll find the interior is pretty much all there with buckets and is in fair condition although it too will need attention or replacement to be brought back to life for the customer who wants to start cheap and save.”

While actual barn finds aren’t always what we feature here on BF, this Cobra is about as close to the goal as it gets. There’s no telling how long this forlorn Ford has been sitting in exactly what looks like a barn – and it is a very desirable find, an uncommon model from the halcyon muscle car era. While the price of entry seems reasonable, this Cobra is going to hoover up an enormous amount of time, effort, and $$$ to ever get close to how it once was – and that’s without addressing the engine matter. So, what’s your thought, a worthwhile endeavor?