1948 Triumph T100 500cc V5C, Valuable Reg. Running Great. Looks Unrestored

1948 Triumph Tiger 100. 500cc overhead valve twin.
Comes with a current V5C, which has it's original number which is transferrable. I am told the reg is worth circa two grand, but I can't for the life of me think what it might spell. Tax and MOT exempt at this age naturally.
So the unusual feature of this machine is that cosmetically it is completely unrestored. However, underneath it is a different story. Mechanically it is spot on. The last owner has had extensive work done to the engine, largely by Cotterill Engineering of Clay cross. This included changing the crank from white metal to proper shells, re-boring, crank balancing and so forth. The machine has had a Morgo oil pump fitted so the oil return pressure is really good. The clutch and gearbox have been renovated. The electrics have all been fully sorted with the mag and dyno both having being rebuilt etc. etc. So the result is an engine that fires up straight away and runs great. It is charging. it is not rattling or smoking etc, it sounds and runs great. It is even oil tight !.
The bike or chassis is a different story. The last owner has carefully rescued and re-used absolutely everything he possibly could that is original. So the vast majority of what you are seeing is correct original factory parts. Most of the paintwork has long gone and he has left it with this decayed look. So you have all original tin-ware, rims, hubs, stand etc. etc. So, it all fits together exactly as it should. Some stuff is clearly new as he could not rescue the originals. So, the exhaust system was new as are the bars, a few of the dials and the horn etc. The chain guard is missing as the last owner wanted to source an original item rather than just whacking a re-pop item on.
So, this is also where this bike is interesting because it offers choice moving forward of continuing to develop this by finding the missing original items OR to go down the full cosmetic restoration route and bling this up. In my view there is a lot of blinged up machines out there, but the unique feature offered here is the machines distress. But the choice would be yours of course.
This has some really great features when you study the pics. Such as, the original tank with the flip up cap. The original oil tank again with the flip up cap. The original lucas headlamp shell. The original speedo. etc. etc. This is the model where the speedo drive was off the rear of the gearbox which lasted for just a couple of years. All that is in place and works fine. This is also the final year of the panel tank because for 1949 they changed to the plain tank top and the nacelle. So for many this is a critical year with the last of the panel tanks and separate headlamps. They were also iron engines at this point with the alloy engines coming out in the very early 50s... (1952 I think)
The pictures tell the story far better than I can. Study them very closely. The numbers at this period did not match. I have nothing on file to say if they left the factory together, but I suspect they did as both engine and frame and gearbox are all spot on for 1948 and this is on it's origin al reg. I think this is all completely correct.
Here is a link to the 1948 catalogue if you wish to compare this with the catalogue:
https://cybermotorcycle.com/gallery/triumph-1948/index.htm?fbclid=IwAR2YH9CIVUWMKVY6E0q1X5aWHfmvABxaH1VHwsX7Ye1kM2b3KUQb3xlj_Ec
So, you have a machine that looks to be completely unrestored on the surface, and to some degree that is true. Underneath though, mechanically, this has all been done, and done really well. This bangs up first prod and really moves as it should. I like early Tiger 100s, they were good tools. For 1948 this was a good ship. The motor is really crisp and the oil return is remarkable. The last owner has spent several years progressing this motorcycle very carefully, to this stage. I think now, it needs the next owner to finalise a few outstanding details. You can choose to go down the full bling route and do the full cosmetic trip and make this look mint with a load of new chrome and paint... OR... you can leave this as a rusty street prowler that will upset a tonne of folk, including the spoke counters, and surprise a lot of modern bikers, but remain one that you can use and use and use and not care if you get caught out in the rain. I know which camp I fall into. I do like early iron, and this is a good piece of iron. This will pull a crowd everywhere you go every time, always. No question. You will be the centre of attention if that is your thing.
In summary, why waste a good few years trying to restore a machine, which might end up with half the character of this machine when you could simply buy this... with all it's original tin-ware, the engine fully sorted, the electrics fully sorted and with a really fun / valuable reg? Just buy this. Skip the miserable years of restoration hassle. Just ignore the cost if you can. Get this and enjoy it this year. It will not disappoint. You will always be able to re-sell this in the future and all of your money will come bouncing back quicker than you could get it out of the bank probably. This is not lost money. Short of a head on smash, this bike is not devaluing any time soon.
Viewing welcome. Collection preferred, but delivery to your door by a very polite courier costs only £140... in the mainland UK that is. No test rides without the wedge.