After removing, cleaning and replacing the chain I noticed a ratcheting sound when pedaling. The chain has about 5,000 miles on it, but has always been regularly serviced. The cogs are in good shape. This is a Raleigh 3 speed, but the following question may apply to all bikes.
Is it possible the chain was put on wrong? If you think about it, a chain can be put on 4 different ways. Would it make any difference one way or another for a well used high mileage chain?
Could the ratchet sound be because the chain is a little loose on the cogs?
Thanks for your input.