So are you asking if it's from 1976 or 1986. Definitely closer to 1976.

I don't agree that 531 on a mixte is senseless. It is rare, though, and I suppose that's because people who want that style bike may not want to spend much on it. But I do agree that the components are a bit too cheap for a 531 frame, but only by a little. They are reliable. I was so pleased to see Raleigh replace the cottered steel crank with the cheap alloy cotterless one. And I was just as pleased to see them replace the Simplex gear system with a SunTour one. The brakes were adequate and didn't need changing. The only thing that's not nice on the bike is the steel rims. At the time, alloy rims were pretty expensive and therefore rare on a mid-line bike.