This is one of the most rare and valuable Sting-Ray models. Features a front spring fork, 5-speed Stik-Shift, bucket style saddle, chrome fenders, and MAG sprocket. Front wheel is 16” with middleweight tire and rear wheel is 20” with Gripper Slik tire. Have a look at this nice example:
Hand brakes work the rear caliper brake and front drum brake.
3 other colors were offered this year: Orange Krate, Apple Krate, and Pea Picker. One of the coolest bikes made.
Model: C30-9
Original Retail price: $93.95
Value
The original Krates are all valuable. I usually see them for sale from $1,000-2,000, with some really nice examples for more. Be aware that Schwinn has reissued the Krate several times, but the most valuable are the original Chicago made Krates.
Links
Schwinn Bicycle Company History
Images donated by South Shore Cyclery
Frugal Average Bicyclist 
Cool post. I had something similar when I was a kid, and I rode the crap out of it until I outgrew it.
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Nice, you were lucky!
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Love these bikes!
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Awesome post! I had a similar bike, Spanish brand, super comfortable.
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Looks very fancy.
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