Crack in rim?

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I just happened to notice what appears to be a crack in the rear rim near the vavle (see photo
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s). I'm an occasional rider of this 74 varsity. When I do ride I do hit some speed especially downhill. Should I replace the rim? Anyway to repair? Or not a huge issue?
 

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I'd take a look at the inside of the rim to see if its a crack or a patch of some kind that was put on there for cosmetic purposes. If it's cracked, its time to change it out.
Will do thanks for the help!
 
That sure looks like a weld that has been ground down to me. If it's a crack, grab the rim on each side of it and try to bend it, you will see it open up.
I tried twisting and I could not get it to open. I looked closer and it sure does look like it was welded. I'll keep me eye out for a rim. The ones I've seen are pretty expensive for a cheap bike.

Thx
 
Could be the manufacturer drilled the hole on the wrong side of the rim, (looks like the weld seam side). Normally the hole for the valve stem is 180-degrees off of the weld seam (i.e., on the opposite side). Who would re-weld and re-chrome a Sears Free-Spirit steel rim(?).

Agree about the comments on chrome plated steel rims relating to general bicycle quality.

The expensive part about replacement, might be the shipping of such bulky items.
 
Bikes with similar wheels are curb-left all the time and you should be able to pick up a set really cheap if you can find a co-op or some place that takes donations, maybe even CL. I threw out a set when I moved last as they were the remainder from when I spent too much money upgrading an old bike for my sister to 700c and I didn't find a home for them in probably 5 years.
 
Eureka! I found someone giving away a varsity with the correct size rims in good shape. The front and rear axle has these leather straps. What arenthese for
 

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Hubshiners were common in the 50s:
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Now you have two Varsitys! I would use the best parts of both bikes to make a factory Varsity and then use the leftovers to make an Urban Bomber:

250qmqd.jpg
 
Mine shiners don't have reflectors, still cool. The 2nd varsity is really beat. Just taking parts and trashing it. Here's a the good one
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