Kevin, I looked at it a little bit more this afternoon with an LED flashlight and small mirror. I think the bolt is cross-threaded in the captured nut! I tried prying the hinge face away from the cab face it (using 2 pry bars while having helper turn the ratchet)to see if I could get the nut to grip. Nothing but spin. Arrgh.
I was able to see with the small mirror that taking the fender off does not appear to give any better access to the lower hinge pocket. Looks like a big deep hole with access at one point, thru the hinge hole.
I am going to consider any other suggestions, hopefully someone else has had this happen to them before!
Right now I think the best idea may be to hold the bolt head with vise grips and try to drill a straight pilot hole thru the bolt and then keep drilling using successively larger bits, one size at a time until I drill thru the threads of what probably is a 1958 vintage 3/8" - 24 bolt, made of good steel. At some point the head should separate from the threads and I hope to be able to do as you describe, remove the captured nut and install a new one. Now to find 11 sizes of reallllly good drill bits 1/8" thru 5/16"......
Thanks for your thinking and ideas!

Last edited by 58NAPCO3600; 12/13/2016 3:38 AM.

1958 Chevrolet 3600 NAPCO 4x4 Apache
"Calvin"
In the Stovebolt Gallery