A couple of weeks ago I picked up an ’83 Schwinn Collegiate (Ser. G 0383) that was in surprisingly good condition. For now, all it needs is:
1) Cleaning & Lube
2) New Chain (probably doesn’t NEED it, but the old was fairly rusty and I had a KMC Rustbuster sitting unused)
3) Adjust the shifter
4) Adjust the Coaster Brake
5) Oh, and a rack. I’ve got a Wald Rear Rack (in chrome) on the way.
Later I’ll probably replace the grips (one is split a bit).
So far, the only challenge was removing the seat tube. The saddle came off the seat tube leaving the seat tube jammed in the seat post (it had been adjusted all the way down). Thank goodness for WD-40 and Liquid Wrench Penetrating Oil (only needed a touch of each).
Interestingly, this is an early Taiwan / Giant outsourced Schwinn Collegiate. It has the Shimano 3CC rather than the Sturmey Archer rear hub.
Here’s some pics sans-grime.