1971 Scwhinn Grey Ghost 2 Speed Kickback?

[WillWork4Parts]

I spy with my little eye....the outline of a chain guard decal(not an original silkscreen, also probably not original paint). I'd sell it as is complete before the rest of it comes into question.
You did good on the purchase price. If you're looking to maximize your sale price, I'd recommend parting it out with a brief soapy water or WD 40 clean up(avoid getting the decals wet though). Just look at the prices of the fork's, drum wheel, seat, and kickback wheels on eBay. You're more likely to get more money in pieces.

If you actually like the bike, have pride in working, enjoy the hobby, and want to keep it for yourself, there are better methods for cleaning and polishing posted here in the forums.

Coaster Krates are a hard sell at high value, because, again, the main value is in those 4 parts I mentioned.

 

[creebobby]

This bike is super kool and nothing can take away from that.

Did you decide what you're going to do with it?

 

[DjBMill]

As of now it’s sitting in my garage. I have the wheels off to take to a Schwinn dealer to have tubes put in. I love the bike but don’t have much time for projects right now. Might sell it.

 

[Nashman]

Cool bike. Should clean up nice. Only original once. Period changes give it character. He shoots, he scores!

Good score!

 

[Xlobsterman]

Hi everyone. I’m new to the forum. I picked this up today for $275. I ran the serial number and it came back a 1971 Chicago Schwinn. Did they make a 2 speed Grey Ghost? I only thought they made a 5 speed with the nut buster shifter. I was hoping I could get some insight to this bike and maybe an estimated value as is and after I restore to original condition. Thanks in advance.

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That is not a real "Grey Ghost".............!

If you look at the chainguard, you can see it is a decal, and not a silkscreen that would have been done at the factory.

 

[Rusty Klunker]

As of now it’s sitting in my garage. I have the wheels off to take to a Schwinn dealer to have tubes put in. I love the bike but don’t have much time for projects right now. Might sell it.

Gonna need a time machine if you want to take it to a Schwinn dealer.

 

[creebobby]

No need to slander the bike and say it's not real!

My first reaction to the pics posted is that it IS a real 1971 Coaster Grey Ghost that went through some mods and additions over the last 51 years.

The paint on the frame, the chipping down to the red primer and the yellowing on the seat tube decal look similar to my 71 Ghost. The luster and character of the vinyl makes me think it's probably an original Ghost seat.

My guess - and we'd need more and better pics to guess better - is that the original chainguard was disguarded and lost back in the day and that a later collector added a replacement with decal (because good luck finding an orphan original), as well as maybe the front drum brake and who knows, maybe some of the other parts. Kinda built it up to complete it with what they had or could find. Two speed kickbacks were not really a popular addition in the 70s so that kinda points to a later collector adding it.

 

[Coyote]

Good bones at that price, no matter what was added on.
I'd clean it and ride it!