Should I refurb or send for scrap metal?

[newts]

FIL has passed his old bike onto me & i'm thinking of cleaning up/rebuilding as as shopper/pub bike.
Wheels need rebuilding, many spokes are rusted & there's pitting in the rust on the frame.
Is it too far gone to be an economical rebuild?

 

[MontyVeda]

why not do both... refurbish it then scrap it

 

[classic33]

Rebuild, it doesn't look too bad.

 

[wafter]

Rust on the frame is going to be your biggest enemy; it the frame's sound it'd do as a hack although you'll doubtless not get back the outlay on bits.. Of course that's not always what it's about though

 

[newts]

Excuse my ignorance, this is my first time with technology from this era.
The rims appear to be stainless steel as they are still shiny after 60 years?

 

[Randomnerd]

I wouldn't bother.

 

[midlife]

Frame looks quite old with the mudguard braze ons, is that a braze on for a sturmey wheel for a sturmey rear wheel?

 

[ColinJ]

Horizontal dropouts... PERFECT for a very cheap singlespeed shopping/pub bike conversion!

 

[newts]

Frame looks quite old with the mudguard braze ons, is that a braze on for a sturmey wheel for a sturmey rear wheel?

FIL bought the bike c1960 secondhand, it had original been a single speed with flip flop hub. He had it converted somehow to 5 speed/single speed flip flop.
Can you explain 'braze on for a sturmey wheel for a sturmey rear wheel'?

 

[Cycleops]

Seen far worse down here. You could do a oily rag restoration and maybe consider a SS conversion as suggested above.
Hope you got the cotter pins. The rims are not chrome but appear to be alloy.
The burning decider is does the seat post move or can make it move with a little persuasion? If not then I'm afraid it's scrap.

 

[CharleyFarley]

I'd put it back together, clean it up and sell it. I did an old, neglected 7-speed cruiser, recently, that the lady owner was going to dump. The handlebars were rusty so I sanded them and painted them with black Rustoleum paint. Put some lube on the rusty chain. Adjusted the rim brakes and sold it on a local online market. I asked $40 (£33.58) for it. Sold it in one hour. A dozen people wanted it. I put about 45 minutes of work into it, so the cash helps with groceries. I've done three of them, this year, all given to me. They were actually quite serviceable after I finished them; I wouldn't sell junk to people who can't afford better bikes.

 

[newts]

Seen far worse down here. You could do a oily rag restoration and maybe consider a SS conversion as suggested above.
Hope you got the cotter pins. The rims are not chrome but appear to be alloy.
The burning decider is does the seat post move or can make it move with a little persuasion? If not then I'm afraid it's scrap.

Seat post moves ✅
Cotter pins present (very worn)✅
I was thinking of de-rusting & oily rag frame.
Are the wheels worth £20 on replacement spokes?

 

[midlife]

The gear wire for sturmey used to go over a little wheel under the seat. Braze on was usually a better class of frame.

 

[newts]

The gear wire for sturmey used to go over a little wheel under the seat. Braze on was usually a better class of frame.

Apologies, I was looking at the wrong part of the frame.
Yes, there appears to be something here

Forks & crown were originally chrome, as was the rear triangle.
I dont think the blue paint nor decals (no name) are original.

 

[Cycleops]

Sure, decent pair of old skool wheels with alloy rims, replacement spokes and new bearings. Easily worth twenty notes.

That's a hanger for the centre pulls.