If $20,000 is your budget I think you would be half-way there for a restoration on this car. I would estimate $40,000 to properly restore this car. Also the time it will take for the restoration will make the effort that much harder on you both. With that said, if you could find a running , driving 1963.5 Galaxie Fastback for under $40,000, I would buy that for your husband and enjoy the car. Maybe sell the old car to someone else to restore and help pay for the running, driving Galaxie. Good luck and be careful with your money.

Yes it's probably worth restoring but i would first get someone to inspect it for major rust especially the frame and suspension parts as they are very expensive to replace or repair !! Also i would get someone reputable to give you a estimate and i would not pay anyone upfront for work not performed to your liking !! Some will ask for 1/2 upfront but i would not do that because they already have your car to start with ! I would make payments on it when stages are completed !! Also you are very close on the price of restoring it but could be higher depending on the work quality !! Be careful of scammers especially someone that you are not familiar with when you are getting estimates !! I would get at least 2 or more estimates before choosing and always ask for references and also to see some of their work !! Hope this helps you !!