Yes, see if you can pull it out but.....have a look at the rest of his teeth because if he has other loose teeth or a build up of tartar, I would get him assessed for suitability for a general anaesthetic and clean/removals/whatever needs to be done.
Older dogs manage modern anaesthetics really well. It's not like the old days with thiopentone. A white knuckle ride for everyone. Induction with propofol and maintenance with isoflo is much easier on them (and the anaesthetists nerves).
It would be far better to give him something to calm him before he goes in, a nice premed (that will take the edge off further) anaesthetic and dental at this stage to set him up for his old age, than his immune system low grade fighting the bacteraemia he is subject to with a less than optimal mouth, or worse, being forced to do it when he is a couple of years older and it all really messing him up when, done earlier, might have allowed him to live to a riper old age.
The difference in dogs after a dental, even really radical dentals where I've had to extract virtually everything bar their canines, is amazing. people say they are like a puppy again.
I think they hide dental pain but by the time you can virtually pick them out with your fingers, the root has long time died. I think it's just getting rid of the build up of bacteria holding calculus that makes them feel so much better.
Tooth decay/bacteraemia is recognised as having a knock on to heart issues in old age. The same goes for us.
Their mouths heal up so well after a good clean and done now, it would probably see him out quite honestly so it would be a good investment in his health if he does have a tartar build up.
It's also recognised that some breeds don't really get dental problems. I had a Staffie cross lurcher. He cracked a tooth when he was six and I took that one out and gave the rest a bit of a clean. I had him PTS at the age of eleven and his teeth were in good nick, having had no other treatment. He never had chews or 'dentastix' or anything beyond his normal grub but some breeds just seem really prone to problems. (90% down to the amount and quality of the bone the teeth are in though).
Dental work in dogs is really underestimated as a means of improving their quality and length of life.