Today I was let in a closed bike shop to look around (former Precision Bicycles Niagara Falls, NY). The building owners had assured me there was a very valuable old Schwinn bicycle still inside. Dreaming of a Paramount or Voyageur I went in and saw the below bike. I then spent my time politely suggesting that the remaining stock be donated to the Buffalo Bike Co-op which I think/hope they might do.

I see only a very rusty old Schwinn cruiser but building owners saw it as a very valuable bike (I think they might have dropped a $700 figure) from the 1930's. It would never occur to me to pay anything for this but I did wonder if anyone knows what it is??? Just adding to my education. Is it really from the 30's????