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Been in my family since the 70's - Streamline Aerocycle

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IT LOOKS LIKE A '34 MODEL WITH DOUBLE DROP CENTER RIMS!
THE SERIAL NUMBER IS PROBLEMATIC!
What does that all mean and what makes the serial number problematic? I'd like to know everything I can about this bike and everyone here had been a great resource.
 
I don't see anything problematic with the serial number.
Arnold Schwinn & Co. didn't start using an alphabet prefix in the serial number until 1935.
The Streamline Aerocycle was a catalogued model from 1934.
That makes your bike a 1934 model.
It's hard to tell from the pictures, but it looks like your bike might be Special Dark Red(maroon) instead of the typical light red that most Aerocycles were painted in.
That and the Excelsior decal on the front fender, makes the bike a little more unusual than most.
 
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