Mercury introduced the Cougar in 1967 as a more upmarket alternative to the Ford Mustang. The company raised the bar in 1968 with the rare GT-E variant. With a 427-4V monster under the hood, its performance was unquestioned. Our featured XR-7/GT-E presents superbly, with sparkling paint and a spotless interior. It could comfortably take its spot at any show, drawing crowds of admiring enthusiasts. However, its next journey could be to a new home, and I must say a big thank you to Barn Finder Barney for spotting the Cougar listed here on Craigslist in Coon Rapids, Minnesota. Rare classics of this caliber are seldom cheap, with the seller setting their price at $125,000.
There was genuine opposition at Ford World Headquarters when Mercury pitched the concept of marketing a pony car. Ford feared that Mercury would siphon sales from the Mustang, but with a different target demographic in mind, Mercury believed its request was justified. Eventually, Ford gave the green light, and the first Cougar landed on showroom floors in 1967. Our featured Cougar left the line in 1968 as a Special Order for a dealership in Torrance, California. The indications are that the dealer treated it like a “halo” model, designed to draw customers through the door. They selected a potent XR-7/GT-E variant in classy Augusta Green Metallic with a Black vinyl top. The GT-E package also included Argent paint on the lower extremities beneath the side moldings, further accentuating the appearance. The seller provides no background information, so it is unclear whether the car is a survivor or a restored classic. One thing is undeniable: it presents superbly. The paint has a mirror shine, the panels are laser-straight, and there’s no evidence or mention of rust. The trim and tinted glass are spotless, and the Cougar rolls on its correct GT-E wheels. However, the twin hood scoops confirm that this XR-7 is more than a pretty face.
Mercury played pretty hard with the 1968 Cougar GT-E. Cars produced before May received the W-Code 427-4V “Side-Oiler” V8, producing a factory-quoted 390hp and 460 ft/lbs of torque. A four-speed manual transmission remained unavailable until the company introduced the 428 Cobra Jet as a running change during the model year, and since this car features the Side-Oiler, a three-speed C6 automatic handles shifting. The GT-E package also brought suspension upgrades to improve handling, along with power steering and power front disc brakes. As with the panels and paint, the seller doesn’t indicate whether this Cougar is mechanically original. That is a critical consideration, because the GT-E would need to be numbers-matching to justify the price. It is also unclear whether it is a turnkey proposition, although nothing in the listing images or text suggests otherwise.
The theme of impressive presentation continues inside this Cougar. Trimmed in Black, the seats feature leather that looks soft and free from significant wear. The remaining upholstered surfaces are excellent, while the woodgrain on the dash and wheel accentuates the car’s luxury leanings. The dealer didn’t load it with factory options, restricting their splash to an AM radio and rear shoulder harnesses. However, the included Marti Report indicates that this GT-E, with its combination of engine and other options, is unique. Whether that adds to its potential value will undoubtedly spark debate.
Any classic with a six-figure asking price can’t really be considered affordable, meaning that the seller is pitching the vehicle to a relatively limited pool of potential buyers. So the vehicle must be special to justify that price. This 1968 Cougar XR-7/GT-E falls into that category because the company only produced 256 examples with the 427 under the hood. The presentation is superb, and this is a classic where Hagerty and recent sales results show consistency. Both suggest the asking price is realistic, but is that enough to get this Cougar a new home?
Very, very, very cool Cougar. High performance and high class, wrapped in one package.
I hope our always-perceptive friend CATHOUSE will give it his once-over.
Thanks Adam.
This appears to be a very nice car. The only minor issues that I see are the incorrect decal on the trunk lock cover. It should have an XR-7 decal. The console is not original as it is not listed on the Marti report. There is a discussion about this car on the Classic Cougar Community forum. Anyone who is serious about possibly purchasing this car should first contact the Cougar Club of America GTE registrar for additional information about this car.
A true blue chip wow! One of these recently sold for 125k on BaT, so the price, while not for mere mortals, isn’t out of line presuming its numbers matching.
I have never heard of a Cougar with a 427 surprised how many were made.Would a mustang with a 427 cost more?
The 427 engine was not an available option in a Mustang.
Is it odd it didn’t get the 428 – or was that a Mustang only for the two pony cars ?
The 427 was listed as an option in the 1968 Mustang brochure, but you are correct in that none were actually built. There are plenty that have been created and passed off as original, including at least one with no engine code in the VIN.
The 428CJ was a mid year option for both Cougar and Mustang. Around 30 GTEs Received it as it replaced the 427 on the order form.
Always loved these GTE’s 427’s. There was an old Couple probably Original owners. Drove past my house twice a day for 15+years. Then @1988ish, Hot Rod or Car Craft(?) did a article on one. Never saw again after that. It was Light Blue 427/auto perfect. Other time this scenario happened was a 1968 Cobra Jet white Torino. parked daily driver. Around the same time as the Cougar. Never saw it again either. Rare as Hen’s teeth. At least I saw them as daily drivers.
What a beast!! Odometer broken?
Depending on mileage and condition(and having the hidden headlight doors aligned) these range from about 50K(driver) to about 175K(mint) This looks mint so the price is very good.I adore this car with a lust i cannot describe without being locked up as crazy.
You too?
Lucky we have a support group.
Barn Find.
Totally rare awesome cat! This thing would sneak up with a loud purr, then POUNCE! I normally don’t care for blackout style taillights, but I found out online these Cougars came with them like that. They look good on this.
That must have been one heck of a “Barn”….this site desperately needs a name change,as there are far fewer “Barn Finds” than there are “Barrett-Jackson Finds”.Gorgeous car though
‘this site desperately needs a name change,as there are far fewer “Barn Finds” than there are “Barrett-Jackson Finds”.’
Just like Bring-A-Trailer..
But there are people who complain when there is a barn find sometimes. “Why can’t they wash off the dust and dirt?”
Touche!
Crazy good looking car. The paint is unreal. Ive never seen one look this nice and I’m surprised that it isn’t worth more with the rare options.
Wonder what it turns in the 1/4.
My big brother had one of this era with a 396 Blue with white accents.
Dash looked nothing like thus one.
Rightfully so, I never was allowed to drive it.
I think you meant a 390, Mercury didn’t have a 396
You are correct, fat fingers, small phone
When he bought it, the add said 427. the car had decals proclaiming 427. Serial numbers gave true answer.
It was Blue with white graphics, He had it stolen in 78ish, never saw another like it till about 2010
This is a beautiful car and if it has the matching drivetrain, well worth the asking price. The fact that someone ordered this car, but failed to include a limited slip rear, baffles me. With that much power and those skinny tires, when the light turns green, you’ll still be sitting at the light, in a cloud of smoke, when the other guy is home and in bed.
I have owned two and still own one. There were 356 427 GTEs built not 256!
There was also just 1 non GTE 427 cougar built. In a non GTE color of White. It was also ordered with the in dash AC installed and the under hood AC shipped uninstalled as ford would install AC on a 427.
Bought a GREEEN BLACK VINLY TOP 427 GTE Cougar in Ft Worth TX in 1983 for $1500 with the original engine sitting out of the car.
Reinstalled the engine and cruised the car down Camp Bowie Blvd on Friday nights!
Who knows?
This very well could be the car we bought back in 1983!
Bull,
If you see a blue 66 Mustang coupe with a 351 cleveland, 70 Cougar taillights, Cougar buckets and console, let me know, it might be mine.
Mercury should have offered the cougar in a 2+2 like ford did with the mustang.
‘this site desperately needs a name change,as there are far fewer “Barn Finds” than there are “Barrett-Jackson Finds”.’
Just like Bring-A-Trailer..
1 sold on B A T on 9/2/26 for 125k + fees. i don’t think that C/L would be the place i would try to sell a rare cat like this. i did see 1 in an episode of the FBI last week. it was red / silver on the bottom. very odd to have i used on a tv show.
Can someone clue me in as to the attraction of a muscle car that is valued at over $100K?
First, how many interested and qualified buyers are there at any moment in time? One? Ten?
Even more important, is that population dwindling while you own it? There’s a very good chance that it is in 2026. In ten years, a qualified buyer pool at this price might not even exist.
These cars are most attractive to the guys who actually partied in them as teenagers. I was one. Those guys are now average about 70 years old and they are probably not buying cars anymore. They now own what they want while they enjoy their golden years and actively consider downsizing their garage. Babysitting a $100k car is not really on their to-do list anymore.
What if you own it and then try to sell it and two famous appraisers come to very different conclusions about it’s authenticity and value?
Where do you store it safely? What is the annual insurance nut and what restrictions are there? Who is qualified to maintain it? Especially with a limited edition hot rod engine.
How do you transport it? With an enclosed, unmarked trailer only? Do you have to detail it after every road adventure What if a piece of gravel hits it?
If you take it to a car show, how close do you let people get to it or do you rope it off like a porcelain doll?
I am not arguing that this is not a nice car, and a genuine factory hot rod. But it comes with all manner of risk to the value, plus ongoing costs to own it and show it and other special needs.
I am just trying to understand why someone wants to accommodate all of that, and pay big money for the opportunity to do it.
I guess it’s not part of my DNA to babysit a car.
Here are a few 2-cent comments… For the record, I own several older cars that I drive regularly, take to cruise-ins and occasionally enter in car shows. Among them are a ’66 Nova SS ‘L79’ and a ’68 Z/28. I also have an ’02 WRX that I use for autocrosses and rallies.
Are these cars appreciating or depreciating? If you have to ask yourself that question, you’re probably in the hobby for the wrong reasons. Most enthusiasts buy cars to use and enjoy. If you’re looking at the car or cars you own as investments then your ‘hobby’ has turned into something else altogether.
Store and insure? Getting into this hobby without a plan to store and insure a collector vehicle is just asking for headaches, if not heartaches. Depending on where you live, anything from an all-weather car cover to building a dedicated garage can be a viable answer. As far as insurance goes, companies like Hagerty offer surprisingly reasonable rates.
Transportation? I drive my cars to most events. If you’re planning to enter overnight or multi-day events, you should plan to budget for an enclosed trailer BEFORE you buy or bid on the car. If you’re only going to do the occasional overnight event, you could probably rent a trailer. And yes, all of these solutions are based on the assumption that you own (or are willing to rent) something that will safely tow a trailer.
It all comes down to what’s important to YOU. If your car or cars make you smile when you open the garage door or pull off the cover, then I think it’s money well spent. If having a collector car keeps you awake at nights worrying about the costs of ownership, then you’re probably better off enjoying the dream rather than owning the car.
SquareLeft, I fully understand the concept of owning a nice driver. I’ve had some, including a WRX. You drive them and enjoy them and don’t worry about it. That’s nothing but fun.
I am talking about the $100K+, pristine, original condition, matching numbers blah blah, all of that. These are cars that you don’t just get in and drive around carelessly. Is it going to rain? Is the tar on the road throwing up nuggets in the heat? Are the roads in the fairgrounds gravel or paved? on and on.
To each their own, but as a car guy, I just don’t get it. Even if you can afford it without even thinking about it, it all sounds like work and just something else to deal with to me.
Bluesman, if someone chooses to buy an expensive car, they’ll determine how to enjoy it. It’s their business, nobody else’s.
Steve R
Steve R, I get it and agree. People do what they want.
I am just having a conversation about owning these types of vehicles. It all sounds like he-ll to me. I don’t live to be a servant to an object.
Other people might like that. Go for it.
Seen a car show on tv a few years ago and if it’s the same type rare Cougar that was on display, it had the extra letters on it and only 7 were produced WOW!
I like seeing all kinds of cars listed on Barnfinds. The guy that says “Only list cars that are covered bird-shirt in a barn.” Guy is likely the same guy who complains when you call an engine a motor. Lighten up, don’t be that Guy and don’t take everything so literally.
Rare bear!! Gentlemans hotrod!!
If people don’t like this site, why visit it or comment…. This place and the people behind it are great people!!
I love this place and the vehicles and oddball stuff that gets posted. Learn something new damn near every day!!
Again, don’t like it…MOVE ON!!
I love the comnents, even when I totally disagree with someone else’s opinion.
It is great to see a POS, and hear someone drool over how they would save it.
I find a lot of fun in seeing sonething I owned, wanted, or friends had.
I agree, it’s just entertainment. This is all BS anyhow. What does it matter?
Look at that beauty! 390 hp mill and all the options, and standard equipent Cougars came with.
I owned a 1968 Cougar from ’78 – 82 and it had an unusual option: factory traction bars. It was an XR7 GT with s-code 390 (tired), 3.50 rear and 4 speed, the manual shift comprising abt 4% of production. Still have a picture of the rod that was bolted from Spring Plate to Chassis.Traction Master Co. Originally produced them. They worked: Zero wheel hop.
Loved that car and put miles and miles on it. Oil pressure guage was over the glove box but otherwise nice, full instrumentation, PS, PB and full console. Miss the car very much.
This GTE is a real gem and we hope it goes to a great Home.
Fabulous car for sure, and one I’d never heard of before. But it’s definitely not a car that you try to sell on Craigslist.
I’ve been a BF member for some time now and always look forward to my daily email where I get to delve into all sorts of vehicles (and occasionally non-vehicles) and read the comments about them. I am not aware of any other platform like this one. There really is something for everyone here and it just so happens that this Cougar has sparked a lot of discussion because of what it is. And that’s a good thing. I’ve learned a lot from this site even though I consider myself fairly knowledgeable about the old car hobby having been a certified car nut all my life. I never knew that the Cougar was available with this engine. Now I have acquired another nugget of arcane knowledge that I can chew on. So thanks to the BF writers, car sleuths and commenters who often “make my day”.
Who wouldn’t want it? It’s gorgeous! And I could afford it – at the expense of 45 years of marriage to a woman I still love wholly and completely and the fact that I’d spend the remainder of my days eating ramen noodles and living in a 1968 Cougar.
Want it? Yes! Afford it? Well, technically… Gonna do it? No f-ing way.
ccrvtt, you are in the majority here. Some of us, (like me) live in the shallow end of the financial pool. But love it just the same. I have been very fortunate to have been able to “play” with and drive some very desirable and unusual factory R&D cars from Ford, GM, BMW, and Porsche. Which just ended up with being in the right place at the right time or knowing the right people and being trusted with the various vehicles. Being old and retired has limited my fun curve (not to mention building a new house and shop) since selling the race car. But still have designs on building a new race car. (If I live long enough!) Most of my current fun comes from reading here and learning everyday. Plus being able to add a nugget of info or experience helps to keep my sanity when I can’t be playing in the shop or tearing around the race track. It never ceases to amaze me at the combined amount of experience and knowledge here from all around the globe. THANKS BARN FIND FAMILY!
I bought my gte in 2004 as an investment ,paid what was I believe a record price for a gte. $40,000 . It’s black cherry outside red inside.It’s got a 428 cj and one of three 4speed gte’s made. The first owner was a mercury dealer and he put a Detroit locker in the rear end ,probably why people ordered with out limited slip cheaper at dealer? My car is mostly original ,matching numbers and yes I drive from time to time that’s what they are for. There are two 4speeds left ,the other one sold a few years back for a reputed $265,000 so that’s why some of us buy pricey cars. If you want to see it look up my classic car episode with 4speed gte.
Paid $22,500 for the wellington blue one I have now back in 2007.
What a beauty. Yes, it would need to be confirmed as a numbers matching Cougar to justify the price. I wonder why the seller didn’t list it on BAT if he’s asking this kind of money, instead of on Craigslist.
Commission fees.
BAT doesn’t charge the seller a commission fee, unless it’s over $150k. It does charge the buyer.
the car that i saw in the FBI episode was being driven and sounded very healthy. the episode was the same year as the car..