I live in a beach town and an old cruiser is the way to get around town without getting it stolen. Yesterday I pulled this out of a recycle bin, (with the help of the custodian, we had to pull some steel shelves of it). All bolts broke loose easily, seat post pulled out with a little oil.
Wheels are true, thank the Goddess, since the spokes are so rusted they would never turn. Tubes and tires in good shape.
Only real damage was to the handlebars, when the shelves landed on them.

Serial number search reveals that it is a 1949 bicycle!

Chrome under the black painted fenders is almost perfect and the cranks an chainring chrome are also in excellent condition to clean up nice. The original red paint responded well to test polish with fine rubbing compound, but Heck no" I am not putting 40 hours into this bike!

I'll simply rebuild the bottom bracket, rear coaster wheel hub, repack the bearings and headset and leave all the crusts on it and give it to the neighbor kid to ride around this summer.

Happiness!!!