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Help identifying a Schwinn tandem

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Interesting. The frame on that early tandem is different yet from mine. Much of the detailing is similar, but apart from the obvious frame differences, the head tube on my bike is not lugged at the top and bottom like the one shown on your site. Aside from that, this bike does have mount brackets for the left and right side chain guards, though the guards themselves are long gone. I'm pretty sure that no Paramount would've had even the mounts for that. That might correlate it more with the alleged lightweight tourist tandem that you spoke of, perhaps as a prototype. The serial number might corroborate that, as it doesn't fit with the postwar numbering scheme as near as I can tell. What is the serial number on the '48 racing tandem, if you don't mind my asking?
 
Looks a little like my tandem...part of it anyway.

My Paramount? Tandem has a similar rear end. Triple stays with ball ends. This bike looks mid 70's at first glance but now Im not so sure. No serial number, no diagonal tube from head tube to drop-outs, no cable braze-ons. 700c rear wheel is a tight fit. Has a chainguard? brace on rear bb. I've posted this once before but didnt come up with much info. Any ideas out there? Richard Schwinn isnt convinced its a Paramount but the paint sure does look original.

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Perhaps the X in the serial number is similar to the X you find in lots of one-off car parts and airplanes. X-perimental.
 
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