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1968? Schwinn Paramount ID help

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Just got this from the local bike shop, it was a locally sold and owned bike. Question is, what is it? I’m thinking it may be a P11 Tourist model but uncertain. Any help would be appreciated!

SN is a 1968, right?

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Yes, looks like the 11th frame from October of '68.
AFAIK, there is no difference in the frame set between the P11 & P12, so the only way to distinguish between them is the component package the bike is equipped with(handlebar, stem, brake levers, pedals, saddle etc.).
Attached is the page from the '68 consumer catalog. Not much info here. Unfortunately I don't have the '68 dealer catalog. That would be much more helpful.
Nice find!

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Thank you for weighing in, @Eric Amlie! I recall your lightweight experience dating way back to the original Schwinn forums!

Do you know, was 1969 the last year for the Tourist? I agree that it's going to come down to the parts - am thinking this is a P11 due to the crankset.
 
I'm not finding either the P11 or the P12 listed in the '69 catalog, so '68 was probably the last year for these models.
Obviously a lot of parts were changed on your bike, so I think it's going to be impossible to know(without a provenance report from Waterford) whether your's started life as a Tourist model or a Sports model. Both the P11 and the P12 used that crankset.
 
I'm not finding either the P11 or the P12 listed in the '69 catalog, so '68 was probably the last year for these models.
Obviously a lot of parts were changed on your bike, so I think it's going to be impossible to know(without a provenance report from Waterford) whether your's started life as a Tourist model or a Sports model. Both the P11 and the P12 used that crankset.

My educated guess is P12. The original stem would be a Titan and would have steel bars if it was a factory Tourist. Everything else looks correct for a '68
 
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Thanks very much for posting & sharing this example! ;)

Evidence of having been reworked -

front brake hanger later than cycle, this pattern did not exist at time of cycle's manufacture, it came along about one decade later

note the absence of QR for the rear brake

chainset is in shadow in all images

cannot tell if it is Stronglight Competition or NERVAR
ah, did an enlargement and can see that chainset is Stronglight Competition model Nr. 53

bottom bracket assembly appears Stronglight Competition Nr. 34 with hollow spindle

is this the correct model Brooks saddle for the Tourist of this time? Brooks B-17?

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Agree. I shouldn't have said "a lot" of parts. More like a "few" parts.
If you put the correct stem, handlebar, and brake levers on, you have a correct P12.
I would guess that if it was a P11, it would still have the bow pedals on it, not the Lyotard 460d pedals that it has now, and which are correct for the P12.
Edit: I missed the front brake cable hanger which juvela pointed out.
 
Thanks for your help, guys!

The shop owner installed those pedals last night, I do not recall what was on there before.

Well, sounds like a bike I could pretty much do whatever with. My plan is to not deviate from stock much, clean and service it and run some flat bars. It's slightly too big for me so I think that will be the most comfortable option.
 
Sorry all, one more...

Are these Nervex or Prugnat lugs? Being a ‘68 seems to put it smack dab in the middle of where both were used...

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