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I know of a complete '68 Charger that sold this year for less than $8k in the Savannah area. It was green (of course) and not terribly rough. I don't know if it was running, but who cares!
Just buying up all of the little parts and pieces that that car is missing will more then double that price, not to mention the time.
Personally, I only see this as viable if you were to have a complete parts car, like a rusted out one that you could get parts from. But even then... you would still end up having to buy some sheet metal, I think.