My first vintage bike...1959 Schwinn Corvette

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I just got into the hobby from my friend Laura...she has a few vintage bikes and I thought they were really cool so I figured I'd search for a vintage bike of my own to build and make how I see fit. I found a guy in Superior, WI that buys and sells vintage bikes and he had a 1959 Schwinn Corvette 3-speed for $50. I went and looked at it and I couldn't bring myself to offer him any lower because for $50 I was expecting a lot less, but it's still beat up a bit. Right now it needs tires, probably a front wheel and the cable to the shifter is a bit loose (won't shift with the lever, but will shift when you pull the cable out of the hub). Down the road it will need new fenders, new chain, bearings, bla bla bla...everything will eventually be replaced.

My plans for the bike? Well I plan on restoring it with the addition of a tank, a head/tail light, maybe some different handlebars, and a few other things. I want it painted the same 2 colors that my '77 Dodge D100 truck will be painted when it's time to restore it. It will be resprayed at the same time the truck will be. I know it will be some sort of dark green and a soft gold or a sandy color. Anyways, onto the pictures:

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Welcome to the hobby and the site. That Schwinn was a good find at a very reasonable price. It has a vintage Sturmey Archer 3 speed hub. I recommend starting by just servicing the bike like cleaning and re-greasing bearings, check spoke tension, true the wheels if needed, fix the cable issue........... Then clean the bike up. Schwinn chrome and paint was good quality and therefore it can often be made to look nice again. After that ride it some and decide if you want to customize.
 
Haha that first ad is really cool! Thanks for posting!
The frame is a bit rough as far as "cleaning it up" and the handlebars need to be stripped and either coated or painted, but the brake parts and everything else that can be polished will be put through a wire wheel and cleaned up.
I just removed the fenders today because they were all dented, and I went to one of the local bike shops yesterday and they said not only do they have tires for it in stock, but they said they are positive they have a replacement set of fenders in their basement! Here's a few pictures I took after I removed the fenders:
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The handlebars...yeah, they need a little help.
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I believe this brake line is in need of replacement as well...probably just replace both of them after I accrue some cash.
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And honestly, this seat may be a bit weathered and crappy, but it is COMFY AS heck! I would love to fix it up and reupholster it (I work at an upholstery shop, so that part isn't a big deal). If it's beyond "brightening up", I'll have to look for a clean replacement of the same seat.
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I just went out to the garage and tried to polish out the "Mesinger" tag...it came out decent, but with a wire wheel I bet I can get it looking almost new!
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I also took a good look at the front wheel and it's a bit rusty, one spoke is missing and a few spokes are bent. I took some Wizards metal polish to it and the light rust polished out, so I'm guessing I might be able to clean the rim out, get it re-spoked and I should be good to go. Or maybe it would be cheaper and a lot less money to try and find a good used front wheel?
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I'm hoping to get the bike in the shop sometime this week and have them go through it and let me know what needs help. I'd like to at least get it road-worthy, which means get the tires/tubes, possibly a front wheel, and get the brakes working a bit better and the shifter working.
 
The 59 would have the stainless steel fenders. As mentioned in the add. Even tho beat up those might be worth something to the right person so don't toss them!! I see some smoking deals on s7 rims in the for sale section all the time. Maybe check it out. A decent spoke usually runs ya around a$1+ each then labor on top if the shop is doing it. Good luck. Keep us informed on the progress!
 
Agreed, keep those fenders around if they are the original stainless steel units. I'm not knowledgeable enough to look at the pic and say those are the original stainless fenders but they sure look like they could be. Stainless was a luxury addition back in those days and therefore not so common. Anything Schwinn that is not common has value. Actually just about everything Schwinn has value period. Your bike was a higher end model back then. That's great you can reupholster that seat yourself, it's a cool seat IMHO. Cables and cable housing won't be to bad to replace. With some work the Corvette will be a great bike again.
 
First congrats on your vintage find. Also you have to have plenty of patience.
The dents on the fenders can be fixed and the rusty rims can be deep cleaned with vinegar or some type of rust removal. The seat can easily be recovered. But overall its a good project to re-store.
 
It warms my heart that some here are recommending restoration. And I agree, the bike is cool enough to warrant restoration. My advice? Craigslist a girls Hollywood and pirate some parts.
 
Thanks for the replies guys! I'm thinking of giving the fenders to a friend of mine...he wants to put some fenders on his bike and I told him if they fit, he can have 'em. No biggie.
Tomorrow I'm gonna load the bike up and bring it to the bike shop and see what it takes to get it road-worthy.
 
So I wanted to tinker with the bike tonight but I didn't know what I could do, so I cleaned the fenders off with window cleaner and did a quick polish with Mother's Metal Polish and some shop towels and the stainless actually buffed out pretty decent. Unfortunately the polish doesn't remove dents, so they are still looking a bit rough. LoL much better though!

Front:
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Rear:
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Wow, it's been awhile since I've updated this. Since the last update, I have brought the 'Vette to one of the local bike shops and got a tune-up done. They got the shifter working, brakes working better, and new tubes and tires.
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I also have recently picked up a few new bikes. The first one is an Electra Amsterdam and has a bit of weathering and bent front wheel, all for $30. Not sure what I wanna do with it, but when I saw that brand new it was $500+ new a few years ago, I couldnt pass it up!
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The other is a 70's Huffy Holiday 3 speed and basically bought it because it has nice wheels that will clean up very nicely and I think will work with the Schwinn (when I get it re-spoked to the Schwinn hub) for $15. Might keep the frame and such to make a custom designed frame in the future, otherwise will give it away to someone.
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Nice Corvette! Have you checked the serial number for year? It may be earlier than 1959, the chain guard looks like an earlier model.
 
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