JC Higgins "false cantilever" age and value

[Bike from the Dead]

I'm trying to figure out what year this Murray-built JC Higgins bike was made, but so far I've had no luck decoding the serial number or finding photos of this bike in any catalogs. I want to say it's a mid-50s model, but I don't know. It has chain/seat stays wide enough for balloon tires, but with middleweight fender mounts. It uses the older style of dropouts without the "swoop" found on later middleweight Murrays. And there's no model name on the chain guard or elsewhere on the bike; just "JC Higgins."

I'd also like to know what this bike may be worth, as I'm trying to decided if I want to keep it or sell it. From what I can tell, it's all original down to the matching Sears Allstate Safety Tread tires. Nothing's locked up, and I bet it'd take little more than cleaning and repacking the bearings to be a smooth rider once again.

Here's the serial number from under the bottom bracket. From what I can read, it says: 46861Y MOD502 (could also be MOD562, but I don't know. The 2 is pretty messed up as well.) 136664.

Any help identifying and evaluating this bike is much appreciated. Thanks!

 

[twojs.bike]

Wow! That looks to be in great shape. And such a simple bike. My kind of bike. Personally I think it would be a shame to modify that. I would just clean it up and make it a rider. But this is ratrod bikes. Do whatever you want! It’s yours.

What’s it worth? In my opinion , I have come to realize 99.8% of all used bikes are worth diddly squat at best. At least in terms of $$. The real value is your own enjoyment and appreciation. Anyone trying to turn a profit with used bikes is fighting a losing battle.

Love the bike!!