what is this?
 

i checked the serial numbers on schwinn on http://www.bunchobikes.com/serialnumber.htm but now i'm not sure if its even a schwinn.. on the bottom bracket it reads: MOD.50246742 and then beneath that in bigger numbers it reads: 2 53972 it also looks like the headtube used to have to rivets that held on a badge.. well heres a pic of it.. what is it?

Rollfast maybe? Fork's way bent, looks like steerer tube might be too.

The pointy dropouts, chainwheel, and stamped steel stem (assuming they're original) suggest something other than Schwinn. Those three characteristics were found on my Murray cruiser.

These bikes were pumped out in the 60's by the truck load, I'm not sure who exactly made the frames but many of these bikes were labeled for Sears, Montgomery Wards, and other private store brands. I used to have a Wards bike that looked just like yours but my buddy had the same exact bike labled western flyer sold in western auto stores. The chain ring and dropouts are a dead give a way. Looks like it's been crashed pretty bad. Not a particulary valueable bike but can be cool. I've seen a lot of people put on a generic wald straitght fork, bmx bars and stem, and alloy wheels w/ a free wheel and make cool bmx/old school cruisers.

Boss Hogg is right. Identical frames are found rebranded under various house names. Here's a recent thread pointing to some "hot rodding" of a couple frames like this.
http://www.bikeforums.net/showthread...083#post551083

Looks to be a JC Higgins. This middleweight model would have been sold by Sears from around 1959 to 1969.

Great platform for a project!

Vin - Menotomy Vintage Bicycles, Inc.
http://OldRoads.com