On the face of it, it seems like you have been sold a piece with an intermittent fault. However, 40 year old electronics can't be expected to go on forever, and inevitably at some point will need some TLC.
Needs looking at by a tech, it could be something simple, but best looked over by a 'vintage aware' tech. Tech's who are not vintage aware will quite often tell you that it needs a new 'main board', or say that the transformer is faulty.