Mystery part

[Sven]

Thanks guys....It's great to have people with knowledge and resources. So was this an special order item or did it come on "Deluxe " models?
..BTW. HERE COMES A GREEN HORN QUESTION.....exactly what is a deluxe model?

 

[PCHiggin]

That's the Schwinn Deluxe Head Set.View attachment 796207

Yep, They were factory on Travelers

 

[HIGGINSFOREVER]

Looks to me like the adjustable cup is upside down

 

[jpromo]

This design is intended to better keep moisture out of the fork tube.

 

[Herman]

I had that setup on a 1963 coppertone middleweight with the chrome half tank , don't remember the exact model

 

[GTs58]

The deluxe headset was on many Schwinn lightweights, Jaguars, Corvettes, Phantoms, B models, Fair Lady's and more. Pretty common for the higher end models and starting at the lower end of the lightweights like the Varsity and Continental.

 

[Metacortex]

Yeah that's a Deluxe headset, came on some bikes but not others. I posted about that here: https://www.bikeforums.net/14961443-post3.html