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Always wise to keep your bikes out of site. And if you did leave it out as yard art, it would likely walk away. I do think the Schwinn collector you talked to was high. As it sits, it's worth maybe about $100.
Have never see a bike walk. . Now this bike does walk...........
walk.png
 
Your bike should have a letter date code on the bottom bracket (BB). Here is the list. Note that it references Murray built Western Flyers, which were stamped "MO-" plus the year code. Your JC Higgins was sold by Sears, and their Murray sourced bikes were stamped "MOS-" plus the year. Most were also stamped "MOD 502".
Murray serial chart.jpg
 
Thank you for the list. I've been reall busy and haven't had the time to check on the serial number. I will soon though
 
Thank you for the list. I've been reall busy and haven't had the time to check on the serial number. I will soon though
Welcome to the cabe.Plenty of the old 50,s higgins around and lots of parts to pick from.Keep it and have fun with it.
 
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