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Newbie to the forum so go easy on me guys. Any information on this would be much appreciated, was told it was a Pace from the 60's. And it came with a few tokens. Thanks in advance.

Not a good one to have. How many tokens are with it? Good Luck !

Lets put this into perspective. Many of the old early open front slots were retired to the casino warehouses when the new electro-mechanicals came out. These machines remained in those warehouses for nearly 15yrs gathering dust and critters. In about 1982 the casinos heard of a new type machine that was going to hit the market soon. So now they needed to make room for the newer electronic machines, the E-series. So now the casinos had to do something with the old mechanicals to make the space for the soon to be retired EM's. What came next was that hundreds of metal cabinet machines were sold to various dealers. Some really neat machines like tandems, piggy backs, back to backs and casino modifieds were all taken to the next facility and cut up and made into smaller more light weight conversions. These were mostly made into 25C machines. The dollar and five dollar ones were first to go. Nickel and dime were done later. So your having an unmolested $5 token machine is a scarce item these days. The other thing is that the machine probably is not a Pace but a Space Mfg. which came some yrs after Pace using a lot of the same parts. The parts will be stamped Space Mfg. Co. and the date made.

Any guess on the value, it plays and pays out?

I think it is great to have guys like the "mechanic" around. Deep knowledge in the history. I enjoy listening and learning. Thanks. Scott Z