Does anyone know the year this model surfaced and what it sold for? Also, in its day was this considered expensive?

I believe the JVC RC-656 came out in 1982; it was released concurrently with the JVC RC-M70 and RC-550.

I do not know the price however; though when I purchased an RC-M70 in the summer of 1982 (when the RC-656 also came out), it (the RC-M70) cost $455.00 at Alaska Music in downtown Juneau AK. USA.

Welcome aboard LED!