The 1940 model year marked the introduction of the new top-of-the-line Lincoln, the Continental. The new Continental was offered in either coupe or the desirable Cabriolet body style. It was one of the most expensive cars available in the United States at its release, with the Cabriolet offered at a factory price of $2,840. Meant to convey "European flair, sophistication, style, and luxury," the Continental was lowered three inches and its hood lengthened seven inches when compared to the more mass-produced Lincoln-Zephyr models, all while retaining a revised version of the distinctive Lincoln-Zephyr split vee-shaped grille. Delivered with high-end appointments including gold-finished interior trim and hardware, the Continental was powered by a 120-horsepower V-12 engine with polished aluminum heads and manifolds. Instantly prized in the American luxury car market, the Continental Cabriolet was also hard to get, with only 350 examples built for 1940.

This 1940 Lincoln Continental Cabriolet was built on 27 March 1940. It left the factory finished in Black with a Black top with Tan binding over a Tan leather interior. It was further outfitted with a heater, stone deflector, and white sidewall Firestone tires. Upon completion it was shipped on 3 April 1940 to the Edgewater, New Jersey distributor and later sold new through H.T. Flynn Motors in Larchmont, New York, a suburb of New York City in Westchester County.

The Continental was purchased by Mrs. Gertrude Libbey Anthony of Saco, Maine, a small coastal town just south of Portland. The Libbey name is well known in Southern Maine; her father was Winfield Scott Libbey, owner of W. S. Libbey Co. Mill in Lewiston, Maine. Additionally, he played a pivotal role in the creation of the Electric Interurban, a railway connecting Lewiston and Portland utilizing surplus power provided by the Libbey-Dingley Dam. Gertrude’s father, by local accounts, was an early automobile enthusiast, “buying one automobile after another.” Safe to say Gertrude had great taste in cars herself, acquiring this beautiful top-of-the-line Lincoln new and cherishing it the rest of her life. An avid camper, Gertrude had the front seats modified so they could fully recline and even had custom screens made to protect from mosquitos during Maine’s warmer summer nights.

By 1954 the Continental was put in storage at a convent for safekeeping. Following Gertrude’s passing in 1969, her son, Warren S. Anthony of Massachusetts, took on the project of getting the stored Continental back on the road, rebuilding the V-12 engine, and installing a new wiring harness in the process. The car was listed for sale, advertised as only having been used in summers. Correspondence on file following the 1969 classified ad also alluded to the car having a lowered steering wheel, built-up floor pedals, a special heater, and turn signals.

Eventually, the Continental was sold in 1977 with 52,000 miles on the odometer to Harley P. Caldwell of Barrington, Rhode Island. Caldwell would enjoy the car for two years before selling it to Woodrow Dyer of North Scituate, Rhode Island, who would have the car worked on by Lincoln specialist Lee Waldron of Ft. Myers, Florida. This included the installation of a new convertible top, leather interior, and carpet. Exterior paint and chrome were left untouched. In 1988 Mr. Dyer sold the car to Al Ditmars of Washington Crossing, Pennsylvania. Under Mr. Ditmars’ ownership the Continental was awarded an AACA National First Senior in 1992. Terry Johnson of Colorado purchased the car from Mr. Ditmars in 1998 with the odometer showing 57,000 miles. In 2004 Mr. Johnson had the engine rebuilt and a new clutch installed. The car was featured in the Colorado Classicist Spring 2016 magazine issue (produced by the Colorado region CCCA).

A CCCA Full Classic, and one of just 350 Cabriolets built in 1940, this Lincoln is regarded by many to be the most desirable year and body style for the Continental—an American luxury car with no equal.