How do I read bicycle serial number?

How do I check the history of my bike using serial (PIN) number? I just bought a vintage bike and I want to see what year and model it is and if it is worth anything. Thanks for all your help.
Rob
The bike is a Schwinn but I can’t tell what model. From reading some more on line, I don’t think it’s a Chicago Schwinn, but either way I would like to find out how much it’s worth before I sell it. Thanks for all you help.
I have the Serial number BR565061 located on the right hand front of the frame. The front SCHWINN plate has Chicago on it and a stamp that looks like 1120. Hope this helps. Thanks for all your help. Rob

Here are some pics, it’s the green bike.

http://s307.photobucket.com/albums/nn316/misiaczek77/

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One Response to How do I read bicycle serial number?

  1. bikeworks says:

    I can probably help you out but need the serial number along with the brand and model of the bike… especially if it is vintage.

    Bikes aren’t like cars for the most part- since they don’t get registered you can’t determine the ownership but you CAN usually determine the date of manufacture and sometimes the factory.

    EDIT: A Schwinn Varsity. It was built in February 1979. One of the last Chicago Schwinns. Unfortunately they aren’t worth too much. I would put a pricetag on it of $60-70 and listen to what the potential buyers have to say, then adjust down accordingly.

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