Nice graffiti.
My '73 Varsity has serial number CJ526842. Yours has K803410. It's the J that makes mine a '73; my guess is that yours is a '74 by virtue of the K
If I am recalling this correctly, the 2 letter code started with "AA" in 1965. The first letter denotes the Month, the second denotes the Year. Prior to 1965 they used a single letter for the month, and the first digit was the last digit of the year.
So here's my theory... K803410 is a Varsity manufactured in October 1958, sold as a '59 Varsity. The first year of the Schwinn Varsity.
**edit**
I see jamesl came to the same conclusion as me 10 posts ago.
Originally Posted by jamesl
That bike may have been made on October 27, 1958....according to the
Bunch O bikes.com Schwinn serial numbers. Only one slight hangup -- I don't believe Varsitys were offered that year. Could it be a Racer? They look pretty much identical to a Varsity...
so yeah... +1 to that