1939 Schwinn Paramount

For any collector, surely the biggest buzz must be adding "number 1" to your collection.

Be it comics, stamps, music on 45rpm vinyl - or whatever you choose to collect - tracking down that elusive 'first in a series' is what its all about.

Well maybe comic, stamp or music collections aren’t your thing; but how about bikes?

Bike collectors the world over, just like any other collectors, would dearly love to have #1 in their line-up. Adding some racing heritage to the mix bumps up the prestige and desirability in the eyes of the collector. In the bike game, Schwinn is without doubt A Big Name; to the collector none more so than their legendary "Paramount" label.

What takes pride of place in Tam Pham’s collection of vintage bikes is truly special.

Tam, from Huntingdon Beach, CA, is the proud owner of this historic track machine, the first ever 'Paramount' to roll out of the specialist division set up by Frank W. Schwinn, son of founder Ignaz Schwinn, in 1937.

Built in 1938 by Schwinn race mechanic Emil Wastyn from seamless, butted cro-mo tubing with hand-cut lugs, forged crown and dropouts, the frame represented state-of-the-art building at the time. At first glance, the Paramount does not look out of place 70 years on. On closer inspection, the components give the game away, with its cottered cranks and 1” pitch chain; beautifully-preserved large-flange, Schwinn-produced hubs and adjustable length chrome-moly stem. The saddle is an equally rare Brooks Champion with aluminium frame.

What this bicycle represents is a watershed in the history of the US bicycle industry; a move that was to influence bicycle manufacturers around the world.

By setting up the Paramount division, Frank W. acknowledged the growing market for specialist, craftsman-built production at a time when industrialization of the bicycle industry was at its height.

As a large-scale producer of utility and leisure bicycles, Schwinn realised that there was marketing mileage in racing bikes.

Race successes would reflect favourably on the less-sporty model range. By catering to the needs of a few sponsored riders bearing the company name on their bikes and shorts, prestige and perceived value was added to the mass-market brand. Other major players followed suit, with Raleigh, Bianchi, Peugeot, Gazelle, etc. adding specialist divisions to their operations. This led to a greater understanding by the bike-buying public of the benefits of custom-built bikes, which in turn, enhanced the desirability and stature of the lesser-known brands and one or two-builder businesses.

Sadly, the Paramount label is no longer with us, lost in the company restructuring of the ‘90’s. From its ashes however, rose Waterford, set up by Frank W’s grandson Richard Schwinn. Through Waterford, the Paramount handbuilt tradition continues with Waterford recognised as one of the USA’s leading “micro-brands”.

For Tam, Paramount #1 is the jewel in the crown of his track bike collection. Other bikes include a more recent Schwinn - a ‘70’s version once ridden by Schwinn pro Mark Whitehead; a 1950’s Cinelli; an ‘80’s De Rosa; a 1902 Pierce, plus many more. He’s also an avid collector of components and has a burgeoning catalog of titanium parts in his portfolio.

Try as he might, Tam would be hard pressed to find another rarity matching his Paramount #1 for exclusivity and historical importance. - though I doubt that'll stop him from searching.

After all, it's what being a collector is all about!