Magna Fork pinch bolt replaced with some sort of pin

I have a 1984 Honda Magna VF700C and I need to replace the front tire. Problem is, the axle pinch bolt has been replaced with some sort of pin similar to the four above the front fender. How do I get this out? I know a new bolt would be cheap, but has anyone ever heard of this, and is it possible that the threads are ruined? What kind of cost am I looking at if they are?

You need to dismantle it. If the thread has been damaged you can use a helicoil to save the casting. But more I do and a picture. Or ride it to a bike mechanic if you can't do this