I say repop.
I have one just like that. It has a " brake light " gizmo that uses a ball bearing that runs in a adjustable track to turn the light on and off. As far as I know, the only brake light that schwinn used was quite a bit different than that. I could be wrong, it has happened once or twice in my lifetime.
Oh and they do make a repop without the brake thingy as well. I have one of those to. The other uses a switch similar to the ones that the rocket ray lights use, and not the slide switch like this one has.
Me either, but I haven't seen a few hundred of these either. The outside also looks like it was painstakingly repainted to me. These tail/stop lights were used from somewhere in 1949 till at least the end of the 58 model year (Middleweight Jag) and possible stocked for the 59 model year Phantom just in case someone ordered one on their new Phantom? How many production runs and minor changes were there before the bitter end? I'd like to know when the slide switch came about. Was it when they ordered new stock in 1956 for the new Jag? By this time it wasn't a standard item on the Phantom but it was on the Jag.