With the stamped 502 46001 on the dropout, and, because it has chrome fenders (for the standard eqipped version), it's a 1961 26" JC Higgins Flightliner standard equipped boy's/men's with a single speed F&S Komet coaster brake. The 1960 had the same model number, but it had painted fenders. The standard got chrome fenders in '61 because the deluxe version got a chrome plated frame that year.
The Flightliner also came with black pistol style grips for '61 in place of the black coke bottle style grips the Flightliners had from '58 to '60.
Designed by Viktor Schreckengost, it has what Sears referred to as a "flo bar frame".
Nice bike! It was a big departure from the JC Higgins deluxe balloon that it replaced in '58.
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