1967 Ford Mustang Values
Collector Car Market Review
For a complete description of value ranges, click here.
289-225hp (8cyl-4V) +20%
289-271hp (8cyl-4V) +60%
390-320hp (8cyl-4V) +50%
4spd manual trans +10%
Air conditioning +10%
Center console +2%
Rally wheels +5%
Int. decor group +5%
AM/FM radio +3%
200-120hp (6cyl-1V) -20%
3spd manual transmission -8%
Manual steering -5%
Manual top (conv) -10%
Drum brakes (V8) -5%
The Mustang was a national sensation when introduced in 1964. It created a whole new market segment (“pony” cars), caught competitors napping and no doubt forced a whole lot of engineers over at GM and Chrysler to work extra hours playing catch-up.
After a successful re-style for the ‘67 model year in which the Mustang fended off new challengers from Plymouth, Chevy, and Pontiac, Ford covered all the bases with the new ’69 models. From mild to wild, there was something for everyone. All three body styles—hardtop, fastback (now called Sportsroof) and convertible–returned, and a new luxury oriented Grande option package appeared. Also new were a couple of new high-performance models, Boss 302 and Boss 429.
Starting at the bottom was the base model, featuring a 200ci six, 3spd manual transmission and a very basic interior. From there things got interesting. The Grande package included soft springs, extra brightwork in and out, vinyl roof, wire wheel covers, a richer interior with woodgrain inserts, and extra sound insulation. This package was only available on the hardtop.
The popular GT was back too, but it was de-emphasized in favor of new performance models: Mach 1, Boss 302, and Boss 429. All were Sportsroof body styles. The Mach 1 was the volume performance edition. Base powertrain was a new 351ci V8 with 2bbl carburetion, backed by a 3-speed manual transmission. Its distinctive appearance package included a simulated air scoop with concealed turn signals, hood lock pins, two color-keyed “racing” mirrors, E70 x 14 white wall fiberglass tires mounted on GT style wheels, special stripe package and many other unique cues. Inside, high-back bucket seats, simulated teakwood appointments, deluxe “rim-blow” steering wheel and a large clock mounted in the center of the passenger side pod of the dash were included.
But Ford was just getting warmed up. Mid-year saw the introduction of the famed Boss 302 and Boss 429 models. These were bold, no pretense performance cars, with styling to match. The Boss 302 weighed in with a 290hp 4bbl V8 and 4-speed manual transmission. No automatic was available. The Boss 302 got all kinds of other performance goodies: high capacity clutch, high-rise intake with a Holley 780cfm 4-bbl carburetor, F-60 x 15 tires on 7″ rims, power front disc brakes, dual-exhaust, beefed up suspension, 3.50:1 rear axle, quick ratio steering, functional front spoiler, and several other Boss specific details. Created to compete directly with the Camaro Z-28s both in the marketplace and in the SCCA Trans-Am series, the Boss shied away from nothing.
Another mid-year introduction was the most fearsome Mustang ever produced, the Boss 429. The heart of this model was a very special 429ci V8 that Ford needed to put into production to qualify it for NASCAR racing. In somewhat similar fashion to the early Shelby Mustangs, they were pulled off the assembly line and shipped to Kar Kraft in Dearborn for the necessary modifications and final assembly. Part of this involved structural bracing and a very heavy-duty suspension, but the engine is the real story. It featured aluminum “semi-hemi” heads, a driver controlled ram-air intake, 8-quart oil capacity with oil cooler, a statically and dynamically balanced crankshaft with 5 main bearings, solid lifters and a 735cfm Holley four-barrel carburetor. It was officially rated for 375 horses at 5200 rpm, providing 450 foot-pounds of torque at 3400 rpm. Backing this was a close-ratio four-speed transmission and a 9-inch 31-spline 3.91:1 Traction-Lok rear axle.
The full Boss 429 package included some exclusive equipment: heavy-duty, lowered suspension, sway bars, staggered Gabriel rear shock absorbers, trunk mounted battery, front duo-servo self adjusting disk brakes with extra-duty rear drums, and a quick ratio “Fluidic Control” power steering system. Rounding out the package were Magnum 500 chrome plated steel wheels with Goodyear Wide-Oval fiberglass belted F60 x 15 raised white-letter tires.
A word of note about the official power ratings: while the advertised 375hp was most certainly low, some of the figures that are tossed around the internet these days are a bit of a stretch. Real output is likely in the mid-400 horsepower range.
While the Boss Mustangs came with a specific engine and transmission, other Mustangs could be ordered with one of several different powertrains. Optionally available in all base Mustangs was a new, 250ci six rated at 155 horses. A popular choice was the base 302ci-2bbl small block V8, rated at 220hp. Next up was a derivative of the 302, the 351ci V8. Basically a 302 with a longer stroke, it would become known as the Windsor V8 and was rated at 250 horses with a two-barrel carb, or 290 horses with a four-barrel. Big block oomph came in the form of 390ci and 428ci V8’s, which could be ordered in any model. The base 428 boasted 335hp, while a “shaker” ram air option likely bumped this to 350hp or so, though Ford still officially rated it at 335hp.
1970 brought largely the same lineup back, although the GT was dropped. There were some minor appearance changes, the most noticeable being the inboard mounting of the single headlights. The outboard pair of the previous year’s dual setup was replaced by faux intake grilles. Out back, the taillights were recessed in the rear tail panel. Inside was largely left alone.
The biggest news was the introduction of the new Cleveland 351-V8, replacing the 4-bbl version of the Windsor V8. Compared to the Windsor, the new Cleveland retained thin-wall casting, but utilized a larger molded-in timing chain cover, revised heads using canted valves and positive stop rocker arms, and incorporated four bolt main bearing caps. Engine cooling was improved, too. This robust powerplant was rated at 300hp at 5,400 rpm, a fraction of its potential.
1969 and 1970 Mustangs are popular players in the collector car hobby, running the gamut from an affordable starter collectible to the big dollar Boss 429. Other than the Boss 429, all models were produced in good numbers, with a total run of about 500,000. Base coupe and Grande model are still available at very reasonable prices, and even a good base convertible can be had under $10,000. This is particularly true if they still possess their original six-cylinder engine, a rarer sight by the day as new crate motors are installed on virtually all that receive a restoration. One production note that has always struck us pertains to convertible production. Originally such an important part of Mustang’s identity, production fell to under 15,000 for 1969 and dropped again to under 8,000 in 1970.
Options can play a big role in Mustang values. A rare and valuable option is the factory “Drag Pack”. It included either the Boss 429’s 3.91:1 rear axle or a Detroit “Locker” 4.30 unit, heavy-duty suspension package, and the availability of either four-speed or Cruise-O-Matic automatic transmissions. You also got a beefed up 428ci Super Cobra Jet (SCJ) engine. Intended only for racing, it managed to find its way into 50 or so retail units. Other options adding value include air conditioning, dress up items such as spoilers and window slats, and the Shaker ram air system.