Would this bike of been a fixed gear racer?
I thought the rear wheel was fixed on one side and freewheel on the other , but this one has a freewheel on either side.
I haven't checked but maybe they are different ratios? Or the fixed cog was replaced with a freewheel cog?
Any ideas what originally it would of been?
That set-up was the earliest derailleur. When you got to the top of the hill, you jumped off of the bike, turned the rear wheel around and went down the other side but with a smaller freewheel cog to allow for greater speed. At least that would be my guess.
I recall a story about Campagnolo, or someone, having trouble flipping the wheel during a race because his fingers were too cold. The first derailleur was invented not long after that incident.
Or so my memory recalls, I think, I can't remember.
Again, what a great find! You must be having lots of fun. And I thought I was doing good when I picked up a Nishiki International at the Dump today.