I like that bike a LOT!! It reminds me a bit of the Ladies Packard that I bought a couple months back. The Packard isn't as cool as the Higgins, though. That Higgins has panache!

It does not deserve to be put under glass. Were it my bike, I'd put together a plan where I'd clean it up, service the wheel bearings, BB and headset, give it some new tubes and tires and take her for a test ride. You can always decide what direction you want to go from there, but that's a starting point... Now about that chainguard: Is there a good portion of that thing that has rusted away or are my eyes deceiving me?