1968 Shelby Cobra GT-350 Convertible: A Rare Original Survivor That Won’t Bite

It’s 8:30 am Friday morning in Danville and it was time for our version of Cars & Coffee by Bagel Street Cafe, an event I regularly attend. And there it was; a 1968 Shelby Cobra GT 350 convertible, still mostly in original condition, bought back in 1973 and still in the same hands. 1968 marked a significant turning point for the Shelby GTs; they were now Shelbys in name only, no longer shipped to Shelby in CA for all the special performance upgrades. The GT-350 lost the high-winding K-code 289 that had been juiced by Shelby to 306 hp. Now a mild stock 230 hp 302 sat under the unique hood, upped to a 250 hp by an aluminum intake and a larger Holley four barrel.

The snake had lost its lethal bite.

This is how I first saw the car. I was walking up along a line of cars looking for original CA plates, when I got to two, no less, 1968 Shelby Cobra GT-350s with correct plates. A lime green fastback is to the right of the red one, and I went around to look at the engine compartment; this would tell me how original these two were. The lime green had obviously been restored as the fender aprons’ paint job was very perfect, as were all the period correct hose clamps. On the other hand, the red Shelby was an untouched engine compartment and engine, though, of course, some wear items had been replaced over time.

So we have an original engine block, valve covers, air cleaner and dual vacuum distributor for a 4-speed. The back fire valve and parts were removed long ago and the parts dumped. Doran, the owner, told me that was a big mistake and he eventually sourced the replacement parts, not exactly cheap. The Holley was changed over to a similar Holley, but with an electric choke. This is essentially a 1968 J code 302, 10:1 compression, 230 horsepower, which is the same engine in my Cougar. The only difference was the intake manifold, carb and the dress up items. The carb could vary, as I mention below.

Now research tells me that Ford’s New Jersey assembly plant built all the GT-350 cars and were then modified with the Shelby Cobra specific modifications (unique exterior body parts and interior trim) by A.O. Smith in Iona, MI. They all came with the standard cast iron intake and the Autolite 4300 carburetor. All cars built after March 15, 1968 came with the S7MS aluminum high rise and Holley S8MS-9510-A for automatics and -C for four speeds.

Shelby sent a recall letter on May 21, 1968, for the cast iron intake owners, to come into a dealership and have that intake changed out for the S7MS high rise and in some cases, the later S2MS high rise. Other than numbers, those two intakes look the same. The owner was then left with the option of retaining the Autolite or getting the correct Holley. I happen to have a Holley C8AZ-9510-A from Center City Ford when they had a racing desk back in 1968-1974. It is identical to S8MS except for the S8MS engraving.

The Shelby VIN plate showing “J” for a 302-4V engine. I am assuming the 2887th GT-350 built in 1968. This plate is of course legally correct but quite misleading, as the car was fully manufactured by Ford.

The convertible was a new version for 1968, but only 404 were built. Didn’t look at the door VIN to see exact production date. Note that the ad mentions an optional supercharger. A Paxton supercharger could be a dealer installed option that naturally turned out to be very rare. The Paxton boosted rated horsepower to about 335. It was not available with A/C.

What made the convertible really distinctive was the padded roll bar hoop.

Doran then showed me this, with a summary of the car’s story. Apparently this Shelby sat around, on the lot, before it was bought and why it wears a set of 1969 issued black and yellow plates. That I noticed that the lime green Shelby next to it had a set of 1968 plates. A lawyer originally owned the car before Doran’s father bought it for Doran, who at the time was up at Cal Poly (California Polytechnic State University for all you non-Californians). It is part of the 23 campus California State University System. As to why Dad bought the car was because Doran had Dad’s truck up at Cal Poly in 1973.

Overall view from the back with Doran in front checking his cell phone. I had seen him around many times and he recalled my 1972 Ambassador wagon, but had never gotten into any deeper conversations. One can also see the lime green Shelby GT-350 fastback.

The Shelby front end, along with SHELBY across the front, just like in the rear –in case one doesn’t recognize what they are looking at.

Much like the 73 Mustang Mach 1 I did earlier, you can see the convertible top shows a few wounds. Not an issue with a garaged car that isn’t driven in the rain. One would notice the car was purchased with 48,000 miles in 1973 and now has added 57,000 miles in 52 years. My Cougar at 75,000 in 1973 and now 103,000 today. Doran minimizes the miles as he doesn’t want to have to rebuild the engine. Although at 101,000 miles I know the valve guides are a bit worn if nothing else. Didn’t ask if the original timing set with that nylon gear was still in the engine.

When the car was purchased it was wearing two Shelby Road Wheels and two slot mags, I believe I was told. Doran wanted two more Road Wheels and found someone, back then, selling a set of four for $450. That was big bucks back in the mid-70’s and would be $3000 today. Had to buy all four as the owner wasn’t breaking them up. So now the spare is on a road wheel and the 6th wheel was sold to the fellow with the lime green Shelby more recently. Almost forgot: the car itself cost $1500 in 1973.

Standard Ford mirror with subtle pitting like the windshield. Doran believes it is from sand, as the first owner liked to drive out to Las Vegas and back.

 

The Shelby Cobra GTs got wood interior trim. Instead of a clock down in the console, there are two more engine gauges. This car does not have A/C, but it was available now, along with other luxury and convenience options, including automatic transmission, power steering tilt steering wheel and others. Speaking of steering wheels, that padded corporate wheel looks a lot more at home in an LTD than in a Shelby Cobra.

The 1968 Shelby Cobra GTs marked a major turning point, as the relationship with Shelby essentially ended, but Ford had the rights to the name, and the Cobra name would end up becoming a Ford staple.

 

Related CC reading:

Vintage R&T Road Test: Two 1968 Shelby GT 350s – Cool And Hot, But Not As Hot As A Z-28