The 1968 Shelby Mustang GT500KR represents a high-water mark for American muscle, earning its “King of the Road” title through the mid-year introduction of the formidable 428ci Cobra Jet V8. This particular fastback is one of only 1,053 produced for the model year and holds even greater rarity as one of just 12 units featuring Lime Gold paintwork, Saddle upholstery, and a four-speed manual transmission. After being tucked away in a Pennsylvania barn for approximately 41 years, this exceptional survivor was acquired in 2025 and has undergone a comprehensive mechanical recommissioning to preserve its historic character while returning it to the road.
Lime Gold Survivor with Functional Ram-Air Styling
Dressed in its factory-original Lime Gold (I) paint, this GT500KR retains the aggressive fiberglass body components that distinguish it from standard Mustangs. The exterior features a functional ram-air SMC fiberglass hood, grille-mounted Lucas lights, and signature quarter-panel air scoops that feed the rear brakes. While the car displays a genuine patina from its decades in storage, the underside has been meticulously addressed with dry-ice cleaning and corrosion repairs before being finished in era-appropriate red oxide primer. Sequential taillights and a distinct rear spoiler complete the iconic silhouette of this mid-year Shelby evolution.
Saddle Vinyl Cabin with Interior Decor Appointments
The interior of this “King of the Road” is trimmed in Saddle vinyl and was originally specified with the Interior Décor and Visibility Groups. Following a deep cleaning by the selling dealer, the cabin showcases woodgrain accents on the tilt-away steering wheel and dashboard, along with factory-installed gauges for vital engine stats. Despite its long hibernation, the interior remains highly original, featuring a Sport Deck fold-down rear seat and Shelby-specific safety equipment like the integrated roll bar with inertia-reel seatbelts. While the analog clock and AM radio are currently inoperative, the cockpit maintains an authentic 1968 performance atmosphere.
Rebuilt 428 Cobra Jet V8 and Four-Speed Authority
The mechanical heart of this Shelby is its original 428ci Cobra Jet V8, which was recently rebuilt with .040″-over forged pistons, a Melling oil pump, and an aluminum radiator for improved cooling. This legendary powerplant delivers a factory benchmark of 335 hp/340 PS and 440 lb-ft/597 Nm, though period testing often suggested true outputs were significantly higher. Power is routed through a rebuilt four-speed manual transmission to a 3.50 Traction-Lok differential, ensuring maximum grip. The entire driving dynamic has been refreshed with an overhauled steering system, Koni classic shocks, and a complete going-over of the power-assisted front disc brakes.
| Technical Specifications | |
|---|---|
| Engine | 428ci Cobra Jet V8 |
| Transmission | 4-Speed Manual |
| Differential | 3.50 Traction-Lok |
| Braking | Power Steering & Front Disc Brakes |
| Suspension | Heavy-Duty Springs w/ Koni Classic Shocks |
| Wheels | 15-inch Steel Wheels with Covers |
A Rare Find in the Competitive Shelby Registry
The market for genuine Shelby barn finds has seen a significant surge, with enthusiasts placing a high premium on cars that retain their “as-found” character while being mechanically sound. This GT500KR is particularly desirable due to its rare color and transmission combination, documented by a Deluxe Marti Report that confirms it is one of only a dozen cars built with these specific options. Compared to fully restored concours examples, this survivor offers a unique entry point for collectors who value provenance and the story of a car that survived 41 years of seclusion. Its documented engine rebuild provides the peace of mind necessary for a high-value investment.
The Resurrection of a True American Icon
This 1968 Shelby Mustang GT500KR is more than just a performance machine; it is a time capsule that has been thoughtfully brought back to life. With its freshly rebuilt 428 Cobra Jet engine and a four-speed manual gearset, it stands ready to deliver the raw, unadulterated driving experience that Carroll Shelby intended. The blend of historic Lime Gold paint and modern mechanical reliability makes it a standout candidate for both collection display and vintage touring. As a documented “King of the Road,” this fastback remains one of the most sought-after survivors in the Mopar and Ford enthusiast communities alike.
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Source: bringatrailer.com
