Not TOO bad. The only areas on the frame that look iffy are the bottom bracket (especially the stiffener between the chain stays) and the rear dropouts. I'd try to clean the rust out of these areas pretty thoroughly to see how deep it penetrates. Unless you find something really bad, you'll probably never get a definitive answer on if it is too rusted.
For preventing more rust, you could try to sand off as much as you can and then clear coat over the unpainted areas or try to match with car touch up paint. I know there are some materials you can pour into the frame and swish around that will help prevent rust on the inside, not sure of the name though.
From what I can see, the parts look like they could be original. Other than new brake pads and cables, I don't see anything that has to be replaced. The brake calipers may need to be replaced, especially if the bushings between the arms are too rough and the brakes don't work smoothly. Unless there's a lot of rust or damage, most derailleurs do well after being cleaned and re-lubed.
New brake hoods (if you can find them) may cost as much as a pair of new levers which may give you better braking anyway. Comes down to whether you want to "restore" or just get it working well.
Nice bike though. Definitely worth some TLC. Try to figure out if it is french threaded frame. The bottom bracket will tell you. That may be important to know when sourcing parts and Peugeots can be either french or english thread depending on age.
IMO the rusting is not so bad. Repainting and new decals if you do it yourself is not too pricey. But I do not recommend it. First get as much rust off as you can with a wire brush, than sand paper, naval Jelly is great for finishing the job . There is a rust stop product by Rustoleum that you can paint onto the bare frame to prevent future rust. You can get a spray can of matching car paint to gently touch up stripped areas, or put some racing stickers over them.
It is Reynolds 501 frame a chromium-molybdenum (CrMo) steel, that we like here.
The shift levers can be replaced if needed, not a big expense.
You can clean the chrome parts with 0000 steel wool and some chrome polish, I like flitz or simichrome.
Wheels look OK and like they have SS spokes since I do not see rust. Do service all bearings, head, crank, wheels.
Its a tall bike so make sure its your fit.
Never Give Up!!!
Rust removal - learned from Rick's Restorations - wad up some aluminum foil, dip in water, and rub - rust will come off; works well on the rusted through chrome also. The aluminum foil will not scratch or dull the chrome like steel wool.
after you have everything clean and touch up painted, use J.P. Weigles Bicycle Frame Saver or similar to coat the inside of the frame.
I suspect that your bike has English threads because Reynolds 501 is relatively new (1980s).
Do you want to restore or refurbish? I like older frames and newer components - as you can see from my project bikes. On this one, I'd go with modern dual pivot brakes, aero levers (or brifters) and cross-levers, Shimano UN55 BB, new derailleurs, index shifters (or brifters), new freewheel. I might even cold set the frame to 130mm OLD, and go with new wheels.
Nigel
Its a pretty decent old pew, I do not think the rust is to severe. What are your intentions with the bike? If you like the thought of keeping the original "air" of the bike but want a solid user with the retro factor and are willing to spend some money, I would replicate the graphics repaint the entire bike and re-chrome the fork. I would remove the top tube cable guides and braze on cable stops and update the calipers with some new long reach but try to keep the levers. Newer updated calipers will stop much nicer. If you are trying to just flip it, I would leave it alone. It would be a hard sell for much over $150 if not really clean. But if I were doing it for myself as retro semi updated user, I would not have a problem tossing $300 or so at it to make it "Tits"
There are two kinds of people in the world, "Those who help themselves to people, and those who help people!"
Hey Nigel the 0000 steel wool is for careful polishing. I have watched Ricks restorations, great work but I could not afford them or spend a thousand bucks into a 150 buck bicycle , at best. One day I'll try the aluminum foil thing and compare it to steel wool and flitz and use a timer. :-)
PK I spend close to $300 just doing basic service on my 85 Fuji with a few new parts. Paint job and decals alone can run that unless , (and I know you can,) you do all the work yourself. Even than given the rust and the body work needed on a low grade bike , its got to be love. Man I am beginning to sound like another poster :-)
I had a Peugeot in the 80's with a PITA Simplex derailleur that did not work.
The double brake levers mark this as a entry level bike. IMO make a nice rider out of it but do not go nuts unless you understand the cost. Forget tits. :-)
Never Give Up!!!
I totally agree George, it is a money taker not a maker! But a good one to get your toes wet with.
There are two kinds of people in the world, "Those who help themselves to people, and those who help people!"
Thanks for all of the suggestions.
I spent some time last night with aluminum foil on the chrome fork, but the results weren't as good as I was hoping. Some of the rust came right off, but in most areas the rust persisted and shredded the aluminum foil.
I'm going to start this weekend by sanding the rust off the frame and using clear coat and frame saver. What is best for sanding off the rust? More aluminum foil, a wire brush, or something else?
The first parts I'll replace are break calipers, chain, rear cassette (it didn't come with one), downtube shifters if I can't replace the broken plastic pieces, and bottom bracket with Shimano UN55 BB if necessary.
Read my above post for frame cleaning suggestions.
Is the OP in England , Nigel? That's the link you gave. If you want to strip the frame (not recommended) you can get Zip It or a similar gel stripper brush on, hose off and light sand. Prime promptly to prevent rust.
As far as project bike PK , yes its good to restore and make a rider out of it.
If I was going for tits I'd get a tits bike to restore........
I know you do this a lot and have lots of parts and equipment, but surely you pick your projects well.
As far as what the parts you are looking to replace bb good list, I'd say go for a new BB the Shimano are good I put a UN54 in my bike. Like I said just the minor work and parts set me back $300. But this is a awesome quad butted frame and I love the ride.
Never Give Up!!!
Yes if you have access to sand blasting equipment that's nice. Just be careful around threaded surfaces and bushings. Mask them well......
I have used the Zip It gel stripper on a motorcycle tank and fender it worked very well.
Again IMO do not strip bike unless you really feel very strongly about it.
Its always your call and we are here to help.
Houston, hey I'll be there in June visiting family.......Red River BBQ here I come.
Never Give Up!!!
wait one day after priming. Do not contaminate bike in the meantime by spraying chemicals. when painting, coat, tack time, coat, tack time, coat, tack time, Clear, tack time, clear, tack time. When decals come in, lightly wet sand with 1000 grit, dry, apply decals, let dry,(Depending type of decal). Lightly clearcoat the decals, flash time, clearcoat the decals again. let dry at least a day or two. lightly wet sand again, let dry a day. Clearcoat the whole bike, tack time, clearcoat, tack time, you can repeat again if you like. let dry 1 week, hand polish frame with fine grade polishing compound. DO NOT USE RUBBING COMPOUND.
Tack time may vary due to type and how much paint used, expect 10 to 20min. between wet coats.
There are two kinds of people in the world, "Those who help themselves to people, and those who help people!"
Nice Job....... Looking at the close up of frame it is worse than in first photos. Do not know what equipment you have or what paint you are using. Follow manufacturers suggestions. Best places for information on spray painting are automotive paint suppliers BTW some can custom mix a paint for you and load it into spray cans.........
You can build a simple spray tent by using clothes line to lay out the roof shape than hang plastic from it using clothes pins.....
Take photos of stickers and placement. Graphic houses can duplicate them for you.
Not sure about the clear coat part, is the bike currently clear coated? Its nice and used a lot today to shorten finishing time. BTW it helps to use a hair dryer or heat gun to heat the stickers to loosen the adhesive. For badges you can use fishing line or better yet a shoemaker thread to get under them and gently remove.
Never Give Up!!!
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