You can admire this Peugeot 'Le Lion' from 1893 in the Velorama museum.
Of course I already have some of these Peugeot models on my website (a lot of these bikes survived), but this one is special in some ways.
First: it has pneumatic tyres, which was an expensive extra in those days.
Second: look at the pre 1893 fender stays, and compare them to bicycle 17513. This bike has serial number 19542, so it's newer than the 17513. But it has the fender stays that were shown for the last time in the 1892 catalogue. Conclusion? They used both systems at the same time.
Third: it has remains of original paint and its original mudguards.
Very nice bike!
More info on Peugeot serial numbers? Click here.