Shelby ?

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Can anyone tell me why this bike has no badge or holes for one,is this a wartime thing? Date code is U520,Thanks
 

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It is a Shelby. Are the cranks blackout? Blackout hubs? Found a Girls wartime shelby a while back. Had chrome parts on it, but had what looks like Colombia fenders with victory v's and a decal for the headbadge( no holes either) . Nice find! ND 2-speed?
Johnny
 
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