Treasure from a Scrap Man

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Today I was driving down the road and saw a guy cutting up pipe and iron to sell for scrap, this bicycle was in the pile to be cut up. The guy said that the bike was not for sale, gave him $40.00 he had it loaded and tied down in my truck in record time. Maybe I offered too much?
001_zpsa0d8fc7d.jpg

3 speed Raleigh with mechanical brakes & 28 inch tires.
 
That frame has a lot more rake than the usual Raleigh 3 speed. Does the rear hub have a date stamp on it?
 
I saw one at the Flea Market last week end..$425.00 oh it had a worn out leather Brooks on it..LOL Great score :wink:
 
Nice find - even better you pulled it right out of the scrap pile.

That would make a great Guv'nor style build :)
 

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