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Welcome to where Google takes bike questions, theCABE.com
Because everyone loves bikes!
Your uncles bike is Way-COOL!
I will guess 1939 or 40 based on straight Down Tube and chain stays.
Give your Uncle $400 and grow in Love with Classic bicycles.
Few things to love about that bike:
#1 It isn't a Schwinn!
It's OK; there's a Bunch of those, They Won "Most produced".
#2 Great Original paint, color, graphics, painted drop center wheels...
i gotta go; welcome to the addiction.
here's mine, 1940 Western Flyer
without a tank, i paid $300 April1st, 2015
What's the badge say and why does your uncle think it's a Shelby? AMF bought Cleveland Welding Co. in 1951 and Shelby in 1953, but like the others said, this bike was built by CWC before AMF ever came on the scene. Looks like original paint with an unusual white/red reverse paint scheme, I'd love to see it cleaned up!
My Bike is very similar ( including the rear rack ) I feel like their 1939 models . Lot's of similarities here. Posting pictures for comparison. If it was in my area I'd say $450-$500 range. Mine is badged CWC .