The Continental is a lot like the Schwinn Varsity of the time, also with the Simplex rod front derailleur(sometimes referred to as a 'Suicide front derailleur')
The bike is all original- except the front wheel and the handlebar grips are of course wrong.
serial number- B029208
here is an outline of the parts from Schwinn Lightweight Data Book-
"First year for the derailleur Continental. 10 speed. Stronglight 47/50 chainset. 15-17-19-22-25 Atom freewheel cluster. Simplex Competition front derailleur and Simplex Tour de France rear derailleur. Weinmann side pull brakes. Tubular painted fork with chromed tips. Forged alloy stem with double clamp bolts. Steel? drop bars. Tire size is listed as 27 x 1 1/4 (correct) in the consumer brochure, but as 26" (incorrect) in the model and price sheet. Rims were Rigida steel with knurls on the sides. Hubs were alloy high flange (Normandy?). Yellorex chain. Ideale saddle (#43). Colors were Radiant Red, Radiant Blue, Radiant Green, Radiant Coppertone, and Black. Options included thorn-resistant tubes at $2.00 extra cost and southwest tires and heavy duty tubes for $4.50 extra cost. Frame sizes were 19", 21" and 23". $86.95 "