Cool! That's the earliest Candy Red Opalescent I've seen! And someone paid a $0.65 premium for that optional disappearing red paint job. The Candy Opals were first used on the lightweights and then the 1954 Jaguars were introduced with Opalescent colors including this Red. There were two types of so called Opalescent colors that Schwinn used and the first from what I know about currently is the early post war Continentals. That early Opal paint was not a translucent paint over the silver base but more of a fine metallic paint. Judging by this example you posted Schwinn began the paint change earlier than 1953 which was when I thought the change came about. Jim's Jag appears to be painted in the "early" Opalescent Red paint and I've seen only one other like it. Schwinn did not paint the Steerer Tubes with the silver base in the 50's, the forks were dipped in primer and then only the translucent paint was shot over the primer on the steerer tubes. See my fork picture above. The Opalescent paint chemistry changed for the 1956 model year so 1955 was the last year for this quick fade Red translucent paint.