That seems high by twice....
Can you find one that IS beat to a snot, needs blades and bearings.... and rebuild it? If I had to have 2Kin a disc I'd sooner buy a 500 buck one and put 1500 into it along with a day's work. Just MAKE SURE the IH 39 has a good frame if you're going to do that.
Transporting one is also not a lot of fun. Most of those old things had pretty sloppy hitches that don't want to tow at more than 10 mph. You can chain the tounge tight to the frame corner... but still need to be carefull. Freighting is a pain because they're overwidth... Best to buy local if possible.