Help identifying/assessing an Elswick Hopper?

I've found a cheap £50 Elswick Hopper near where I live. I'm curious to know the date and model of this bike, and whether it's worth tuning and refurbishing, and also if it's an entry level bike or a decent model.

http://i.imgur.com/ARAzdwy.jpg

http://i.imgur.com/0iZbSIH.jpg

http://i.imgur.com/7TBVMfm.jpg

The paint is a bit scratched but the frame is fine. I'm not sure what to make of the mech/gears though. Any help?

Looks like a low end bike from the early Falcon period, early 1970s.
Rideable but not collectible, don't spend much on it.

keithglos":29ze6uu7 said:

Looks like a low end bike from the early Falcon period, early 1970s.
Rideable but not collectible, don't spend much on it.

Click to expand...

You mentioned rideable - how do you think it'll compare to modern steel bikes or hybrids? I don't intend on spending much on it, but a friend has suggested a few upgrades would make it a decent bike, especially for the price.

Thanks for the response btw!

The derailleur is a modern one. It's hard to tell from the pictures but I think that's a Huret shifter, which probably means it originally had a Huret Eco derailleur. I think the chain is recent too, I can see a joining link in it. The wheels might be 26 x 1 1/4, which is a difficult size to get tyres for (although I did find somebody selling them the other night).

I'm not sure what you could do to upgrade it cheaply, and it would be a shame to do too much if it's lasted 40 years in its original form. It's from a time when even cheap bikes were made to be used regularly so it should be usable as is, and it does have the look of a bike that still gets ridden. I would describe the price as about right, rather than cheap.

I would say it's worth buying if you want the period charm but if you want a better spec wait for a better bike to come along.

I seem to remember that Elswick were very much at the lower end of the market, so personally I wouldn't buy it at that price unless you particularly want an Elswick.