Frame Year vs Model Year

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Hey all, new here. Looked around in the bike ID section, but had a different question.

I just picked up an old crusty Schwinn American. The serial number says it was built in November of 1961. So does that mean I have a 1961 Schwinn American, or a 1962? Was it built in '61 for model year '62?? How does this work?

Thanks.

driveside.jpg
 
Bikes for the Christmas rush were built in the fall. And you are correct...at the end of the year the new model year bikes were built for sale in the spring. Usually, you look at the parts on the bike and see if it has any of the new '62 parts or if it's made with all '61 parts. Your bike is very basic so I doubt the parts you have changed much. I'd call it a '61 if it was mine. Gary
 

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