Can someone tell me what Schwinn this is. Never seen one

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I went to see a Raleigh and spotted this schwinn. Never seen anything like it so I got it. Is it worth anything?
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I cleaned off the left rear and pulled up the serial number. Its a 1953 Welterweight with a sturmey archer 3 speed. Im not sure whats original paint and what is added spray paint. Gonna have to take my time with it
 
Cool score. Normally those arch bar / truss bar frames are much earlier, but you are right about the Schwinn one being 1953. Search for Schwinn arch bar or truss bar and you can see more about them. Especially on the CABE.
 
A couple popped up on thecabe during a search, and they were asking a significant amount of bucks for them...you may have just got a significant score.

bike history - welterweight

View attachment 122007
I saw that page and started look8ng deeper at the bike. It was completely chemically stripped except under the headbadge. It was a beautiful red. Hub is a 55 so Im wondering if it was the original wheel set. Also bars look different than the catalog shows so it may have been ratrodded decades ago to resemble an english bike. There was a pile of english stuff that had all been modified
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Im going to head out in the garage for some shop time today. Since this bike is too far gone and unfeasible to restore to original, I think Im going to strip it and save the frame and any useable parts for another day. I have some interesting ideas for it but probably the most realistic thing would be to find an old racer or similar skinny tired coaster bike even if its not a schwinn and use its parts on here for a rat rod. Im beyond caring about original bikes and want to enjoy it for what it is
 
Did you grab the step through as well? She's got some sweet wheel nuts on there, couple of builders here were looking for vintage wing style wheel nuts. Too much going on here to remember which thread, but I think it was @BartRidesEternal and @37ccmflyte
Yes, I got the Raleigh, unfortunately there is only one of the wing nuts and its metric. If someone can use it, they can have it
 
The Schwinn Welterweight is in line for a Restomod rebuild and the Raleigh will become an English trike when I find the right bolt on rear end. Why? Because nobody makes trikes out of English bikes. The lugwork is really nice. In the meantime, enjoy this pic of the childseat. It found a home on a friends klunker today
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Nice find. I looked at a bunch of them. Only one of about a dozen had those big handlebars. Maybe everyone changed them out, they probably stuck out like a sore thumb. From a thread here in 2015, heres a 53, probably the same color as yours was:
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http://ratrodbikes.com/forum/index.php?threads/a-pretty-rare-schwinn.93283/
Here's the only one I found with the big handlebars:
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Another item about the Welterweight is the tire size. 650B. Schwinn renamed them to 26 x 1 & 1/2 for the metricphobic USA market. Plenty of new tires to choose from now that 650B is a popular hipster/erocia choice. If those wheels are another size, they were probably replaced. For quite a while 26 x 1 1/2 were hard to find and some would swap wheels instead of paying a lot for tires.
 
I'm a big fan of truss frames (hence the 1912 Iver Johnson) and that's going to make a great rat! Really nice find!
 
When I was getting my build off bike powder coated, I saw a color similar to the original which I actually like. I may go that route but not sure about going original parts. Maybe if the right donor bike comes along, I may get close but I wont obsess over every nut and bolt
 

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