Rich: parting out a 504 is a hard call, they didn't have sleeves, thus most of those engines are reaching the end of the line as far as rebuilding. The rest of the tractor holds up very well, thus there may not be big demand for the parts, other than the engine.
A working 504 with the D-188 diesel or a more reliable gas engine is still a very usable tractor, with IPTO, 3point hitch and forward operators platform. The 300 or 350 engine will be a direct bolt up at the rear. You will probably have to modify, front engine mounts, fan shroud assembly, breather, radiator hoses, etc. Shouldn't be too bad as engine will be close in size.
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Today's Featured Article - A Farmall Restoration Story - What's Been Done So Far - by Sean Brinston. This is a story of my first real tractor restoration. My name is Sean Brinston and I was 15 almost 16 at the time of this.My neighbour directly across the road who I had helped with hay all the time had this tractor sitiing at his house for what I thought was 6 years. Finally I got the money and courage to ask him. I phoned him and he said it was already sold, eight years ago!
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