Hi Terry,
Yes, I still do have a '59 Palomar. It is in this link below-
http://tradgang.com/cgi-bin/ultimatebb.cgi?ubb=get_topic;f=14;t=004985 Please keep in mind that I'm only an enthusiast and about as far from an expert as you can get. My opinion is only based off of what I "believe" to be true...
The information that I have was from when I was researching my bow and the ads that I found in a quick search of my archery magazines from those years.
If you look closely at the 1961 ad picture, you can see the dip in the grip area on the back of the bow. Please remember that the grips were hand finished and varied in between bows.
The riser profile similarities do exist but if you follow the brightest white line (which is the lamination and glass) down the belly of the bow in the ads, the 1960 doesn't appear to have the plastic overlay on the belly that you can see in the 1961 ad. They are not the best quality pictures though so it's hard to tell just from the ads.
I encourage you to keep seeking out opinions and information about the bow and take it all into account when determining a model year rather than just going by the serial number.
Brad