I spent the first 35 years of my life living along the Gulf Coast, where EVERYTHING (Pick One) either molds or rusts (though sometimes I swear they did both) between the warm temps, the constant humidity, and salt air.
It's nothing to play with as some folks can get mighty sick from / with it.
Here lately I've seen more 'what about this one' inquiries about used Precision Basses, and guys, used ones are just not that hard to find from real cheap to stoopid money. So I just wouldn't be in a hurry to jump at a 'deal' if there's not one there, it's too easy to find one that might suit you better. IF this is mold, and it's deep enough to NOT wipe off, then you may be into a re-fin and expense not planned for. I've lived around lots of mold at times, been run out of places while it was removed, and this axe for me would be a non-starter it if really is mold.
I'd also say the kneejerk 'all the 70's Fenders ain't all that' reflex just doesn't work. CBS Fender in the 70's were still made in the same production process as Leo had set up the factory in the 50's: Guys band sawing bodies and necks off patterns, bored housewives winding pickups, some kid pressing in frets, and the necks largely shaped by hands. The same good, mediocre, and not so good you'd see in any manufacturing environment in those days. Just think of how crummy 70's cars could be. The CNC and CAD/CAM we take for granted today was only on the horizon, so these largely hand and Mk. 1 Eyeball-built axes could and did vary. Some were very good, some were OK, and a few weren't. You just had to 'find a good one' then . . . . just as you do now when you see these old guys for sale.
