It appears to have original paint and what is left of the decals. It looks like the fenders are aftermarket but everything else looks right.
The item "1950's Vintage Schwinn Panther Women's Bicycle Bike Phantom" is in sale since Saturday, February 10, 2018. This item is in the category "Sporting Goods\Cycling\Vintage Cycling\Vintage Bicycles". The seller is "snowmanss-s10" and is located in New Haven, Indiana. This item can be shipped to United States.