Wiseman88 said:
trust me its legit i've known the guy since i was a wee-er lad and he said he'd be willing to
edit: i've held it even its magnificent
A 1970's Les Paul, genuine, in "magnificent" condition as you said it was, depending on the year would fetch anywhere from
$2,000 USD (most often in poor condition) all the way up to $10,000+. I would also say he is yanking your chain sir. I would
invest in the online Les Paul Studio. And as these nice dudes have pointed out, the Studio version of the LP wasn't even released until 1983. It is possible you confused the model though. There's no way this is legitimate, even if you have known the dude your whole life that doesn't mean he wouldn't love to grab some easy money off ya.
EDIT: There's nothing wrong with asking your friend for the serial number off of the guitar. If you do not know how, a lot of these people on the forum are friendly and will help you research the serial number to find out the year and model.