check out he VIntage Tractor Resource website. It can provide more detail. In general the 100 Series Tractors have the 600 and 601 Series and , 700, 800 and 801, and 900 Series. The 600 Series that has a 134 Engine vs. the 800 Series that has the 172 engine. All came in gas, diesel, or propane fuel systems. Getting back to your question: 1955-57 Ford Produced the 800 Series with various transmission, PTO, and front end designs. For example: the model 821 did not have a PTO or 3PTH but most often a drawbar and perhaps a backhoe mounted in place of the 3PTH; the 841 had a 4 speed standard tranny and non-live PTO, 850 5 speed tranny non-live PTO, 860 had a 5 speed with a Live PTO. Moving ahead to late 1957 to early 1958 Ford enhanced the cosmetics and produced the 01 Series. From 1958-62 Ford produced the 01 series that includes your 861. The 861 was known as the 860 in previous years. The 861 Stamped near your serial number indicates this: 8=four wheel adjustable axle with 172 engine 6= 5 speed tranny with live PTO 1= Series designation (01 Series). 600 Series w/ 134 Engines were known as Workmasters and hence the decal Workmaster. The 172 800's are known as the Powermaster hence the decal. The decal could have any number between the words Ford and Powermaster. It was common to just have the generic Ford 801 Powermaster decal. And it was common to have specific model designation such as Ford 841 Powermaster or in your case Ford 861 Pwermaster. In all of these scenarios the decals would be correct. Well, this is just a start for you. They are good tractors.
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