Did you pick 1950 for any particular reason, or is it that you want one that was the "first incarnation" of the Land Rover - ie the Series 1?

I'm not sure if you can find 'decent' Series 1s in the UK at anything reasonable prices. Similarly, if you "get one out of a field" - the prices and availability or parts for S1s may be high/difficult.

Have you considered importing one? It sounds like a stupid suggestion to import a LR back into the UK, but you might find an example in better condition at a lower price overseas. As an example, this is a road legal, registered and WOFed (MOTed) S1 here in NZ...

http://www.trademe.co.nz/Browse/Listing.aspx?id=1026030209

There are roughly 2 and a bit NZD to the UKP. I think it will cost something like £3K to get it 'back home'. I don't know what this will sell for - sometimes they go high, others go for silly low money. You can pick up a decent road legal 107 (the longer wheel base models) for £3K here - everyone wants the SWB. Landies in general here don't rust anywhere near as bad as the UK - dryer and no salt used on roads. Central Otago is the best place to source non-rusted Landies.

I just sold my SIII SSW to a fella in Queenstown who is restoring it and will then sell it on to the US at silly money. He's recently done the same with a couple of very early 110's - I think he was selling those for about US $60K. He does a very good restoration on them though.
 
Forget series 1 as an investment, you're too late.
Series 2
Stage 1 v8 series 3
V8 90 or 110
V8 Range rover (classic) and the overfinch 5.7 Chevy small block full conversions

These are investable.

You're also too late for a 50th anniversary defender
 

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