The present invention is directed to a torque transmitting bicycle freewheel coasting mechanism comprising a drive body, a driven body and rolling bearing elements supporting and spacing these bodies during coasting. The rolling element bearings are elastically deformable and, during the application of a sufficiently large driving force to the drive body, they deform to allow relative movement between the bodies to bring one body into contact with the other body. This movement is small and the load is carried directly from one body to the other body without damage to the rolling element bearings. The bodies are only highly loaded by drive loads during torque transmission. During coasting, the flexible balls or rollers spring back and support the bodies in a spaced relationship in a normal bearing fashion. The flexible rolling bearing elements are not hard so bearing raceways can be formed directly into the bodies.