Saw this Peugeot listed locally by an older gentleman who said it was his wife's ride for a few years, but has been sitting for the last few decades. I decided it was interesting enough to deserve some love so I took it home for 75 CAD.
The hubs, derailleur, and headset all got a cleaning and relubrication. The chrome & screws got either steel wool or a bath in rust converter, and some enamel touch up paint helped to hide the major gouges in the original paintwork. The dry-rotted wheels were replaced with Michelin whitewalls. I'm very pleased with how different the ride felt after all that work! Everything feels nice and smooth.
I'm thinking I'll keep this one as my campus cruiser. The last picture shows off just how well it fits into a trunk when folded.
by fourthstanza