Possible Elgin Victory found and what to do with it?

[Uncle Shish]

I recently picked up this Murray built Elgin in solid condition. When I saw it posted I noticed that the handlebars were painted white with bare metal showing beneath and on the stem. I also noticed no head badge nor holes where there might have once been one. The frame mounted kickstand served as another clue. This summer I had heard and read about the Victory bikes when a friend of mine bought the 2-tone bluish grayish model at the Royal Oak swap.
The bike looks to have been painted several times both by spray and brush. Removal of paint on the rims is showing a reddish maroon as well as the frame. First layer removal on the fenders revealed red, but beneath that, along the edges I am finding dark tan (see close up photo). The fenders braces were painted white with a brush, they are also revealing a dark tan beneath where paint still exists. I am unsure if the stamp on the bottom bracket is SE or SG, even upon close inspection with magnification. Unfortunately, the removal of the black paint is showing that what's left underneath does not seem salvageable. Stenciled fork and head tube markings appear to be gone.
So I ask, what to do at this point?
Do I try and color match and repaint based on online photos?
IM a graphic designer by trade and can recreate any stencils needed.
The Hurd book shows paint numbers in the description but I've yet to find an Elgin paint chips resource.
I also have a tank, and a rack from a 1940 that would fit. Do I just do what I want at this point and make it to my liking?
I will post several photos to examine for clues and can take more.
Thanks, as always, I appreciate everyone's knowledge and input.

 

[Uncle Shish]

This is CABE user Rollfaster's Victory Elgin and I'm wondering if this is what mine may have appeared like or if anyone has other opinions on color combos this may have had. The red inside the head tube does not seem to be as dark maroon as these in my opinion.

Here's another

 

[AS-1]

Regarding your question, "What shall I do with it?" I have a solution. Box it up and send it to me.

 

[Uncle Shish]

Regarding your question, "What shall I do with it?" I have a solution. Box it up and send it to me.

You dirty bird

 

[mrg]

Not A Victory bike, just a early war time 42 Murry built Elgin, They were starting to cut back on brass & chrome and paint was cheap!

 

[Uncle Shish]

Not A Victory bike, just a early war time 42 Murry built Elgin, They were starting to cut back on brass & chrome and paint was cheap!

View attachment 1935085

Yes! I have that book, too and that was my thoughts exactly. So my confusion was with it being the “Victory”. So it’s probably the first one described in the color options, maroon 417 and light brown 121 and white trim. Now to only find an existing model for replicating … or what say ye, should I just do as I feel?

 

[catfish]

Enjoy it

 

[AS-1]

Take two or three years and turn it into a museum piece!

 

[mrg]

The term "Victory bike" didn't come out till a yr or 2 later and were bare bones lightweights.

 

[Uncle Shish]

The term "Victory bike" didn't come out till a yr or 2 later and were bare bones lightweights.

Thanks. I've read the corresponding article that was originally published in the Smithsonian. I guess my misunderstanding was the bikes with the stars on the forks, I believe on PG 62 of the Hurd book were deemed Victory bikes?
So much knowledge and insight to be found here.

EDIT: After going back and re-reading the page 62 description of the Deluxe models, nowhere does it mention the word "Liberty". I'm not sure how that word ever made it's way into my head. I think it may have been the guy selling at Royal Oak swap? Who knows?