How rare are true Palomino's

Palamino is a color not a breed. I've never seen or heard of a Palamino with red eyes. You may be thinking of an Albino but some say that a true albino would have no pigment at all so wouldn't have red eyes, but a very light blue. Blue eyes are mostly seen in paint horses. Palaminos are beautiful, one of my barrel horses was a palamino as a teenager.

I'm not sure about rarity but a Palomino is a color breed, not a distinct breed and and they almost always have dark eyes. The true Palomino refers more to a color or range of colors rather than a certain breed. Any breed or type of horse can register as a Palomino as long as they are properly golden colored although for some breed registeries, horses must also meet a conformation or type standard. The standard for the Palomino states that the ideal color should be that of "a newly minted coin" but some Palomino registeries allow a coat color that can range from very light to a deep, chocolate color. Skin and eyes of a Palomino are usually dark. White markings are permitted on the legs but must not extend above the knees or hocks. The specific coat color of a Palomino originates from its genetics. The scientific term for this is heterozygous, meaning that their blended color comes from both parent's genes. Palomino's cannot breed true; in other words if crossing a palomino with another palomino will only give a person a 50% chance of a palomino foal with a 25% chance of a chestnut and 25% chance of a cremello.