It was an unqualified success, other than that it was very expensive to produce and showed little if any real profit potential. Sponsorship of 6-day riders produced a team to showcase the Paramount, the riders such as Jerry Rodman (The Michael Jordan of that time in Chicago) and the rest of the Schwinn Co. bicycle line. Several years ago, a company named Gates introduced a concept never before seen on outdoor bikes – a belt drive that performed like a chain. Their innovative system – called Carbon Drive – features a carbon fiber reinforced belt with teeth for maximum durability and true bike performance.
A growing number of US teens and young adults were purchasing imported European sport racing or sport touring bicycles, many fitted with multiple derailleur-shifted gears. Schwinn decided to meet the challenge by developing two lines of sport or road ‘racer’ bicycles. One was already in the catalog — the limited production Paramount series.
[Ignaz Schwinn] was born in Hardheim, Baden, Germany, in 1860 and worked on two-wheeled ancestors of the modern bicycle that appeared in 19th century Europe. In 1895, with the financial backing of fellow German American Adolph Frederick William Arnold (a meat packer), he founded Arnold, Schwinn & Company. Schwinn’s new company coincided with a sudden bicycle craze in America.
The Paramount was developed for track and road racing by Emil Wastyn, a 6 day racing frame builder, mechanic and Schwinn dealer in Chicago, who immigrated from Belgium. The Chicago Schwinns were among the most bomb-resistant bikes ever built, and they were built with unique technology . With the exception of the Sports Tourer, Super Sport, and Superior, they are welded, not brazed. The head tubes look as if they were fillet brazed, but they weren’t. The head tube and the tapered segments that lead into the the top tube and down tube were actually made from two special forgings that were “electro-forged” (welded) together down the centerline, then ground smooth, so the seam is not schwinn beach cruiser usually visible.
As always, the Paramount spared no expense; the bicycles were given high-quality lightweight lugged steel frames using double-butted tubes of Reynolds 531 and fitted with quality European components including Campagnolo derailleurs, hubs, and gears. The Paramount series had limited production numbers, making vintage examples quite rare today. Other road bikes were introduced by Schwinn in the early and mid 1960s, such as the Superior, Sierra, and Super Continental, but these were only produced for a few years. The Varsity and Continental sold in large numbers through the 1960s and early 1970s, becoming Scwhinn’s leading models.
The wheel rims were likewise robust, chromed, stamped steel with a unique profile designed to hold the tire bead securely, even if pressure were low or lost. By 1975, bicycle customers interested in medium-priced road and touring bicycles had largely gravitated towards Japanese or European brands. In reality, mass-market French manufacturers such as Peugeot were not infrequently criticized for material and assembly quality — as well as stagnant technology — in their low- and mid-level product lines. Nevertheless, Peugeot proudly advertised its victorious racing heritage at every opportunity. By 1979, even the Paramount had been passed, technologically speaking, by a new generation of American as well as foreign custom bicycle manufacturers.