I just bought a Schwinn Traveler from a friend for a few dollars. The bike is in farily good condition with the exception of worn out tires and a few nicks on the frame, but besides that it shifts well. Does anybody have any statistics on the bike or a history of it, like what years it was built between. If this helps out it is a blue one and it says schwinn chicago on the front tube.

I'm surprised you haven't had any answers on this. That was a popular bike, and I know there are (used to be, anyway) some Schwinn guys on here. Maybe on the Schwinn site?
My old college girlfriend used to have a Traveler--it was the first "real bike" I was ever around, and sort of got me interested in the sport. From what I remember, it was a step above the Varsity, which was the "10-speed" that everybody who didn't have a Peugeot rode in those days. There were hundreds of Varsitys around campus, but only a few dozen Travelers. I'm pretty sure the rims were steel, but I can't remember whether the crank was Ashtabula (the one-piece kind, with a bent arm going through the bottom bracket) or cottered (two separate crankarms, held on the BB spindle with cotter pins).
I doubt there's much of a collector's market for the thing, but it wouldn't take much work to tune it up, replace the tires (do the brake pads, too) and ride it until it dies.

yeah, the bike is definately a heavy beast. the tires need to be replaced but the pads seem fine. i am thinking of using it as a training bike due to its weight and getting a newer road bike sometime for races and stuff.