My 0.02 on this subject is that $100 is on the high side for a neutral clutch 5hp Elgin. They are, however, good little motors. If it’s in good running condition now, you can get a new water pump impeller cast for it. I think Brian Wilcox does those. They are pretty powerful for their size and rating too. Others.will.surely chime in with opinions as well.
-Ben

I really like the green Elgin’s. There’s a reason there are so many of those motors around you know, they were very well engineered and very strong runners. That, along with ”Sears easy payment plan” made them sell like hot cakes.
I used to never pay attention to them, and always passed them up, untill one day I spotted an ultra clean one in a customers garage. After telling me the history of the motor, and that his dad was the original owner, I bought it. After doing the usual service work to get it running, I was amazed at how much power it has ! Strangely enough, it’s one of my favorite’s.
At 7 1/2 hp, and mounted on a 15 ft. Deep C Alumacraft, with myself, my son, and the 2 other motors riding along, it would plane us out. Using the hillbilly tiller extension, we were moving right along.

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I have a couple of them. Very nice running motors. Some of them you can use and OMC coil on the coil core of the Elgin. So if the coils are bad, don’t through away. The OMC coil will slip right on to the the laminated core. Then use the OMC condenser with it.

There are lots of these motors around for parts. I believe that would be the same shift lever as the 7.5hp. If that’s the case I may have an extra one for you if you get the motor. A picture may be needed to see if I have what you need. If it’s in otherwise good condition mechanically and cosmetically, I’d pick it up for $50.
-Ben

I bought a 1954 7.5 four years ago for $40 in OK cosmetic condition. With new OMC coils and a new impeller, it runs great. Of course I have more in it than I could ever get for it, but I like it! I think it’s kind of "styling challenged" but it has a sophisticated design, with lots of rolling element bearings. Besides, it was living in a chicken coop and needed a home.

Bottom line, though, is that these motors are not rare. I would not risk buying one with a busted off shift lever, just because there could be deeper damage. The lever is a steel rod, not that easy to break.

auldscott