This is a vintage 1955 Schwinn Deluxe Hornet in the black and red color.  All original except for tires and front light.  The seat looks like it was recovered, but poorly.  This is definitely a Deluxe Hornet but at some time in the past, someone put a Spitfire headbadge on it.  Its a rider but needs some paint work.  The red is starting to fade to orange and the black is showing some rust.  Fork is half chrome and half painted to match the deluxe paint scheme of the Hornet.  The fenders are in good shape, still with good paint and the red pinstripes.  The rear rack is also showing rust through the black.
This Deluxe Hornet was made in Chicago, IL in the second week of January, 1955.

Measurements:

18 1/2" Seat Tube (top to center)

21" Top Tube (center to center)

31" Stand-over Height

Specifications:

Seatpost original steel post

Saddle - Troxel spring type saddle, 2 piece top, the original top is gone but someone sandwiched a black piece of vinyl  to recover it, rusted frame and springs, usable though

Stem - original steel quill style stem

Handlebars - 21" original bars, chrome is worn

Crankset - 1 piece drop forged ashtabula style cranks, original

Pedals - worn block style pedals, sprayed with silver paint to hide the rust

hubs - New Departure rear coaster brake hub (will need cleaning and most likely a rebuild), Schwinn script front hub
rims - Schwinn S2 26" balloon style, chromed.  Will need to be trued and cleaned

Freewheel (number of gears/tooth range)

Serial #P21028

Reference #40810