Guild F-2512E. Has been getting good reviews and is about $499.00.

Or, look for a used Guild 12 string, they are known for their 12 string acoustics.

Originally Posted by: stratmanjimbo

I'd love to find a dynamite acoustic 12 string guitar that doesn't sound like a mandolin or need to be tuned down an entire step (or more). Martin has always been my 'go to' acoustic but prices are insane especially since 12 strings have come way down in price due to their lack of popularity. Something to do with the 60s ending..........but I do own a decent Takamine "Lawsuit" copy of the D-18 or D-28.......but try as I may.........this always sounds more like a mandolin without that true 12 string 'punch' and nice tone I seek. I's appreciate any input on a quality moderately priced 12 string acoustic. Jim C.