Similar unrestored examples, but not as rusty, sold at Copake Auction over past few years for between $500-750.00 including buyer's fee. It is nice that it looks like all the correct parts are there.
Model No. 4 information from 1896 Crescent Catalog. It was offered in 20" frame with 26" wheels/tires and 22" frame with 28" wheels/tires. Hard to tell from photos which one this is. Catalog picture does not show brake, but it was an option. Does not show or reference a front fender.
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