Raleigh Colours 1957

I am not saying the Raleigh is from 1957. The colour could be Royal Carmine. I do not know when this colour became available, but I do not think it was available in 1950.

Are you restoring the bicycle for yourself to ride?

You will need to learn how to dis-assemble the parts that need lubrication. This process is interesting, time consuming, and requires the correct tools.
Have fun.