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I can't tell you exactly what year, but its definitely early 80s or before. Around 1986-87 Schwinn was updating its entire line--- I think it was 1986 when Schwinn introduced a revised Traveler that had 130mm dropouts, double-butted tubring, and more modern componetry -- eg- crank had aluminum chainrings without a chain-guard, brazed-on water bottle and shifter mounts, indexed shifting, sidepull brakes, aluminum pedals, etc. It was actually a pretty decent entry-level bike for the time...a blue one was my first "real" bike!

This one looks in OK condition...but still there's a fair amount of rust and its of that "department store" level quality that Schwinn had at the time. If you *really* want to spend time with it, I'd offer $30 to take it off their hands as they're probably lucky to have a buyer. but, thats just my opinion.
 
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