Here's what I know about this bike. It came from Minnetonka, Minnesota, where it lived in the basement of a hardware store for several decades. The family that owns the hardware store used to own a Schwinn store as well, and when that venture ended a few bikes got stashed away.
She was born on September 6, 1961. I was born in November of the same year. We'll both be 55 in a matter on months (she looks better).
The '61 Varsity was the first, of millions, to be a "ten speed." Through May of '61, the Varsity was equipped with two front sprockets and a four-speed freewheel, for eight speeds. Schwinn began offering the Varsity as a ten speed in June of '61.
My Varsity has got a few stories to tell. The front derailleur shift rod is bent and the derailleur itself has been replaced by a period correct Cyclo Benelux, an English derailleur manufacturer. I'm sure this replacement happened many years ago. The kickstand is incorrect, as the bike stands straight up and the slightest breeze will knock her over. Odd how these parts are mangled but there is no serious frame damage. There will be Schwinn kickstands around after humanity has run it's course; why did this one need to be replaced?
The rear derailleur is most likely original - a Huret Allvit. Much maligned as far as weight and performance are concerned, the Allvit would find itself on millions of Schwinns, including all those 5-speed Sting-Rays we love. Not the smoothest or lightest, but bomb-proof.
The Japanese seat is obviously incorrect. Its plastic base is all that's left, the cover long gone. The '61 Varsity came from the factory with an Ideale leather seat.
My Varsity needs a lot of love. I have no intention of "restoring" it, despite its historical significance and rarity. It will be
sort of pretty again one day, in a Rat Rod Bikes forum kind of way, and it will be ridden, Lord willing. Going to take some time to get there.
furyus