Cracking Red Paint

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Was Blue Ladies but now has red spray paint that is craking, Bendix single speed the has Schwinn grips on it and the headbadge is painted over too.

This is all I have of the serial number that I can see 5687.
PICT0476.jpg

PICT0477.jpg

PICT0478.jpg
 
Payed $15 bucks, it has a different looking bottom bracket on it than what I usually see, maybe different to keep dirt or whatever out but I'm not really sure.
 

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