This is one of the most unique factory freaks I have owned.  This is a 1940 push button cantilever bike.  Original gunmetal Grey and maroon paint. Initially I thought it was repainted because I could see blue paint underneath the grey.  However, after detail and close inspection I believe this bike to be original. I have seen many a Schwinn and have repainted several bikes, so I know all the tricks. As far as I can see this bike has only been touched up in certain areas.  Dead give-aways for an original paint argument are the original tank decals and patent pending decals. Also, the blue paint is everywhere on the bicycle including the headtube. So it wasn't once a blue and ivory bicycle.  The inside of the tank is bare metal and not painted. Also, the original rivets are on the bicycle and the underside of the fenders have nice grey paint on them.  The specs are dead on.  No seat tube decal which was common for Chicago Cycle supply bicycles.

Also, another very freaky thing recently happened. Bob Usasi recently purchased an original black paint 1940 push button like this bicycle from a farm auction. It isn't a chicago cycle supply bike so it has the full autocycle decal on the tank. It is about a 6 condition in original paint black. Guess what, green paint underneath the black!!!!! Must have been a common thing in 1940 to use colored primer or paint over original paint before it left the factory.

Check out the freaky steer tube. It is as if it was partially drilled for a cycle lock?  Also noticed one of the headbadge screws isn't notched.

I touched up the pinstripes on one side of the tank, fork and seatpost diamond.  The other striping may have been touched up at one point long ago. Some I can tell are original, some questionable.