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Project Hawthorne De Luxe: Putting a 100 year old bicycle on the road for $100

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If you really want to dig deeper into the maker(DPH/Snyder) and/or year further, the area where your serial number is shown below. If you scrape away the thick black paint you should find it. Be aware that many abhor this act on the very desirable bikes, but this is not really one. Up to you.
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So, I thought there was nothing. This is what I got.

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It’s actually a blue, by the way. It is cleaning up nicely in spots.
 
I’ve begun going at the paint with rubbing compound, and the results are amazing. What appeared to be black is a wonderful deep blue. The yellowish cream is a bright white. This bike is going to look great once I am done working on the paint.

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I am thinking about painting the wheels white with blue pinstriping, but am going to wait a bit to make that call. It will be a nice contrast, I think.
 
Maybe show us what parts you plan to use for this project, as maybe we have better parts you could use, and you could re sell what you already have to keep her at $100.00
I think I have a nice seat for your project... pm me your addr so I can see what shipping might cost.
Ps; I would use the early stem, or if you need a crudier one maybe we could trade. Don't be in to big a hurry to get her together.... we(the CABE) might have some good parts for you.
 
The numbers may show up more clearly on the foil when you rub it down over the faint impressions on the bottom bracket.
I tried that, but, alas, nothing. I also played around a bit with adjusting the levels, etc, without a ton of luck. Any thoughts as to why the serial number would have been done so badly? Does this have anything to do with the finish quality of that area? (Yes, some of those scratches are mine, but most were original, concealed under paint.)
 
Maybe show us what parts you plan to use for this project, as maybe we have better parts you could use, and you could re sell what you already have to keep her at $100.00
I think I have a nice seat for your project... pm me your addr so I can see what shipping might cost.
Ps; I would use the early stem, or if you need a crudier one maybe we could trade. Don't be in to big a hurry to get her together.... we(the CABE) might have some good parts for you.
I really hadn't thought about doing that, because I didn't have any money left in my budget, but that would be so appreciated. This is really a great community.

I'm going to work on a list of all the parts that I have available. I'd be willing to trade off the couple bicycles that I have on offer, too, if I could get the cash that I have into them back. (It isn't much.)

Big big announcement:
My plan for bringing this project in within budget had been to use a set of 27 x 1 1/2 wheels. Yes, they wouldn't fit the openings as well as correct wheels might, but it would get the bicycle on the road. Yes, this was my super secret way of bringing it in for $100. Now, that has changed.

Tomorrow, I will be picking up this 1988ish Schwinn Circuit, which I won on eBay for $110.70. It should have 700c wheels. My plan was to use the tires, rims, and spokes, and sell off the remainder to break even. If it is as shipped, it should have the Shimano Santé parts set. (Going by eBay prices, definitely $110 of parts, I think.) I would definitely be game to trade it for the cash I have in plus a slightly more correct rim and tire set, if one were so inclined. I don't like the idea of breaking up a bike, but I also have no idea how bad this one might be. I'll post better photos after I have it home tomorrow evening and have verified that everything is in working order.

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