"pawnshop 12-string..." If it's got a solid top then yes it's worth it. They way to determine a solid top is to look closely at the grain as it reaches the soundhole. If the grain continues unbroken to the underside of the soundhole that means it's a solid top and well worth fixing up. If not take a pass. Also, if it's determined the guitar is worth fixing up(solid top) get a new set of tuners...even inexpensive new tuners are much better than quality ones of the past. Except for Klusons and others on very high end guitars of the era past. If by 'peg' you mean a bridge pin they're replaced easily enough and cheap. If it was made during the late 70s it may have the same electronics as the Takamine's of the same vintage. Those pickup/eq combos are killer and highly sought after for touring pickers here in Nashville. Soundguys LOVE them. They're identifiable by a tan colored volume/eq unit located on the outside/top near the neck/body joint. On the inside there will be a transformer attached to the neck heel w/'by Takamine' and serial number on it. Kasugas were made in varying qualities during the 70s, but mostly good to very good depending on whether or not the top/side were solid or laminate. Hope you got a good one. Didn't realize I commented on this thread before. :-)
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