There are three values that this bike would have. 1. If there is a child that needs a good bike, and you would have to do some work on it to be sure it is ready to ride (and they are ok with riding a bike that may be different from what their friends ride), 2, if you want décor like Crackerbarrel restaurants where you place old stuff on the wall or on a porch to get an old time look, 3. disassemble it and sell the parts. There does not appear to be many parts that have any value but the headbadge, handgrips, fenders, seat clamp and seat post might be worth a few dollars.
My quick guess on the bike's age is early 60's based on the tank. The tanks went out of style by the late '60's.
If it is going to be a rider, I am concerned about the front rim where it looks like the rust is through the rim. It is tough to tell from pictures though and it could just be a stain.
I agree with
schwinnderella that the bike is repainted. Originally, it would have had pinstriping on the fenders and of course the Schwinn decals.
My sister had a bike like this one when she was little. We later put a banana seat on it and a pair of hi-rise handlebars to keep up with the Stingray style of the time. The good thing about the bike was that it could take a lickin' and keep on tickin'. Thanks for bringing back that memory.