I spent so very little on this board. Burke's sister Aileen gave us the peg board. I bought a 1x4 ($5.00) piece of lumber and used it as the trim.
I cut them and primed them. Burke had originally created the trim so had reinforced the outside with a 1x1 ($3.00) . So I had something to nail the new trim into.
I glued and then nailed the new trim to the old, using the same craftsman style that I used around the doors in the basement.
Originally we had pushed in 3 inch long dowels into the peg holes and hung the thread spools on them. It did work, but they fell off quite a lot. A fix was in order.
The spool strips I created by ripping an 1 1/2 inch strip of lumber and then put it through my table saw at a 45 degree angle. Then I sanded and primed them. I reused the original dowels.
Then I drilled every 2 1/4 - 2 1/5 inches so to stagger the pegs to allow the thread to sit nicely. I put some glue on the ends of the dowels and tapped them into the holes.
Then we nailed the new spool pegs to the board. Since I had the 1x1 running alongside the back of the board - I had a good stable place to hold nails. The spool pegs are holding nearly 60 spools - these are mostly embroidery thread I have.
I bought that thread holder hanging in the upper left hand corner a few years ago - it cost me $10.00. I continue to use it for my serger thread. I already had the wire baskets - they were actually a gift. The small metal baskets on the bottom - I bought in Traverse City, MI during my daughters wedding last year. It was nice to get to re-use them.
There's still plenty of room for more - and I still have more thread that needs an organized spot.