I picked this one a little bit ago and I'm starting to get it cleaned up. Normally I would pass on a varsity, but you don't see these early ones very often. The serial number dates it to late 1960, but it probably wasn't assemble until early 1961. They switched from 8 speed to 10 speed in early 1961. This was confirmed over on the cabe by the stamping on the fork. This is the also uncommon 23" frame. It think it's going to clean up really nice and you just have to love that front suicide shifter.
