Got a new bike…

So I just bought this old bike, but new to me, at a local thrift store for $5.95.

The headbadge/sticker says “The Treasury” and the down tube sticker says something about Leisure Tour.

It has a 3 speed Shimano hub.

I plan on sprucing this baby up and flipping it. I just need new cables, perhaps some new tires and its ready to be sold!


29 Comments

  1. Ghost Rider August 12, 2008 3:40 pm 

    Dude, that’s a bike from THE TREASURY. It’s worth a fortune!

    Just kidding. You’ll be lucky to get $20.00 for it.

  2. RL Policar August 12, 2008 3:44 pm 

    No sir, I think you are wrong. I can get way more. Don’t be busting my bubble…I can easily sell this. Once I do, I’ll let you know how much. Besides, anything over $10 is getting my money back…

  3. Ghost Rider August 12, 2008 4:03 pm 

    I like the peaked front fender…that’s classy.

    I wish you luck, in any case…it’s an unknown brand from a bad time for bikes (early bike-boom years). Who knows, maybe Treasury bikes are real collector’s items?

  4. fixedgear August 12, 2008 4:09 pm 

    New TLC show: Flip That Bike!

  5. RL Policar August 12, 2008 4:12 pm 

    I actually enjoy bike flipping. It’s great to see how that old cliche really works, “one man’s junk is another man’s treasure.”

    That old Benotto I had, I sold it for a couple hundred, bought it for $50.

  6. Moe August 12, 2008 8:33 pm 

    Dude, there are a lot of bikes in Craiglist that are ‘vintage’ selling for over $200 bucks… I’m not saying it will sell, I’m just saying that there may be a ‘bike collector’ looking for this particular bike. Or… you can make it a fixie just like every OLD bike in Craigslist and ask over $300 bucks…

  7. Stuart M. August 12, 2008 8:38 pm 

    Good luck. That bike looks exactly like the Japanese “Mama Chariots” that used to be built in Japan, but are now produced in China for the Japanese market. The step-through frame with the low seat tube is a give-away. I admit your bike looks a lot less rusty than the mama chariots I see around Japan. The mama chariots cost about $100 new and the Japanese routinely “forget” where they parked them or just abandon them when they get a flat.

  8. Ghost Rider August 12, 2008 8:53 pm 

    Yeah, this style of bike was real popular here in the U.S. in the early to mid 70s…just one of many throwaway brands like Montgomery Ward, Western Auto, etc. Old bikes sure do have their appeal…and it might actually turn out to be worth something!

  9. RL August 12, 2008 8:57 pm 

    I’m counting on someone that wants that “vintage” look. There’s tons of those people around here.

    Actually when I was at the Thrift Store, there was another dude eye balling the bike and started commenting about it and showed interest in buying the thing.

    But I didn’t let go of it…and gave the cashier my cashola.

  10. Rapps August 12, 2008 9:03 pm 

    My daughter rides and loves her Free Spirit 3 speed. Saw the matching men’s bike and fought off the urge (need) to buy it to have the matching pair. It’s not even my bike/the one I ride and I wanted to have the two. I’m taking a bike repair class with my son now. I drool over your new/old bike. I can fix most of the things there, WOW how cool is that.

  11. Mark Jones (UK) August 13, 2008 12:21 am 

    Well. You will def make money on that. I love to see old bikes whatever they are, renewed. That happens so much here in the UK. generally old race bikes, get converted to Fixed, sprayed and sold for about £300. Good luck with it.

  12. The Dude Police August 13, 2008 3:17 am 

    Nice.

  13. Tony Bullard August 13, 2008 6:06 am 

    Don’t listen to these crazy folks. If it works, I’d pay ten bucks just for that awesome/giant lamp.

  14. tadster August 13, 2008 6:38 am 

    I’d totally ride that. I’d probably paint it though. And I agree with Ghost Rider, that flared fender is neato.
    Please show pics when you’re done cleaning it up.

  15. Clancy August 13, 2008 8:43 am 

    Look like a Murray built bike by the looks of the chainring. Does the hub still work? Those 333 hubs can be kinda finicky.

  16. meli August 13, 2008 9:58 am 

    lovely! it could be a cousin of my frenchie (my ride)
    Digging that rusty crank, if you switch it out, it could make a great wall piece, or a clock :)

  17. Bob August 13, 2008 10:20 am 

    Great find. With the increasing interest in bicycling, vintage bikes are becoming harder find, and more expensive.

    The bike you have looks like a bike you could sell to a lady who is looking for a certain style to go with her “unique” cycling attire.

    I like the crown fender.

  18. Iron Man August 13, 2008 10:31 am 

    Sounds like you could get ten bucks from the gang here for the fenders alone.

  19. climbinskier August 13, 2008 10:55 am 

    I’d give $11 for the fenders. 😉

    Please post pics when you’re done fixing it up and let us know how much you sell it for.

    I love seeing old bikes getting fixed and used.

  20. Paul Dorn August 13, 2008 11:44 am 

    RL: Congrats. There’s nothing like a project, is there?

    My greatest yard sale bike score was an old Peugeot UO-8. Sweet lugged steel, Reynolds 531. Great relaxed geometry. It had a little rust, tires that would never inflate again, was covered in grime and cobwebs. I didn’t really need another bike, having about six at the time in my small apartment in San Francisco. But just looking at it, I knew it’d be a great ride. And it was a project!

    “How much?” I asked.

    “Ten bucks,” said the guy. “But I’ll take $8.”

    I mean, how could I resist?

  21. RL August 13, 2008 12:26 pm 

    I love bike projects…I’ve had quite a bit in the last year.

    I do have another chain ring I could swap out for the rusty one. But not sure if I want to do that.

  22. bikingviking August 13, 2008 1:34 pm 

    nice, enjoy cleaning it up and taking it out on a nice ride. : )>

  23. LB August 13, 2008 2:07 pm 

    I’m not sure of the connection, but The Treasury was a discount store chain which was building stores in the Chicago area in 1974 which changed to Venture stores by the early to mid 80’s. I’m not sure if they were in California but the timing seems right.
    Have fun. Those old three speeds are great rides.

  24. 2whls3spds August 13, 2008 3:49 pm 

    We had Treasure City stores around here in the 70’s.

    Nice find for the price. All the bikes in our thrift stores start at $49.95 for adult bikes :-( and most of them sold for that much new!

    Aaron

  25. Marrock August 13, 2008 5:29 pm 

    Unfortunately I’m having to try to sell one of my project bikes.

    I need to unload a ladies 1972 Raleigh LTD-3 in blue.

    Turns out we need groceries here more than I need the bike.

  26. gwadzilla August 14, 2008 4:53 am 

    so many women’s frames

    so few men’s

    the car culture suffers the same issue with the classics

    the four doors are in good shape

    while the coveted two doors have vanished

  27. nailheadtom August 15, 2008 4:45 pm 

    There’s zero money to be made in turning an old bike into reliable, fun transportation, even if you consider your time worthless. People won’t even pay you what a new set of tires and tubes cost for the whole bike.

  28. RL August 15, 2008 5:14 pm 

    Nail,

    I’ve successfully flipped bikes without a problem. I’m not here to make millions, but to me, if I can get my money back and then some, then I’m fine. I can use the profits to take my wife out to dinner.

    I like working on bikes, its relaxing, so to me, spending my energy on them is better than paying some shrink $120 an hour to provide me some therapy.

    Besides if you know what to look for, you can still turn a profit. Here’s my plan, I restore the bike, get an inexpensive basket on it, and list it. Step through bikes are VERY popular here in So Cal. I’ve sold a couple already after restoring them.

  29. spunkysmom December 24, 2009 9:37 am 

    Hey don’t kock that guy that just got his new/old bike. I went to visit an older couple to check up on them and I saw this 3-speed maroon free spirit in their yard collecting rust. He said i could have it since he and his wife can’t ride anymore and it is the BEST smooth coasting ride i ever had. It rides better than my cannondale. Like everything else….they don’t make em like they used to.

    You hang on to your bike dud….i have a feeling the more rare these bikes become the more collectible they will be. Don’t knock these ole bikes till you’ve tried riding them….they are really fun!….

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