Is this the left non drive side rear drop? The left side is where the serial number is usually placed.
The paint looks too metalic to be an original Schwinn color from the 1960s through 1979. Also, the little we can see of the fork crown reminds me of what was usually used on the road Paramounts. Here is a picture of my '71 P-13. IIRC, most of the track versions had the middle points on the side filed out. Can you take a better picture and post one of the whole frame and one of a closeup of the fork? Thanks!