Are you planning on refurbishing this Panther III?
Here's the scoop on that one so you'll know what year it is and just in case you may be selling it in the future and want to be accurate. This is actually a 1961 model, and it was also built in 1961. The 1960 model had the name Panther II and this is a Panther III. The serial number was stamped on the drop out Nov. 29, 1960, and then that drop out was used later to build a frame. This has the one year only 1961 Stem with the vertical chinch bolt that was used randomly on various 1961 models. If you tear it down for a clean and re-lube, check out the date on the crank.
Schwinn did not build Christmas bikes with serial dates this late in the year or with their normal ongoing models. Only some newly introduce models like the Tornado, Black Phantom, middleweight Jaguar, Racer and possibly a few others were built for an early debut for Christmas sales.