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Here is a photo of the cowl. You can see how the yellow goes over the top of the back paint. Even in this photo it look like a smooth black paint.




Correct, the black was applied first, then masked off before the topcoat color. As Troy points out, you can see some bleed back of topcoat color under the masking.
Non TA/AAR cars had the blackout applied after topcoat color.

As for the type of black... my belief is it was organisol.
I have a perfect organisol sample on hand right now; it's a very fine texture, that can be easily mistaken for smooth especially if dirty & aged.
Logic... AAR's were painted in the same sequence... however, the AAR also had the fender tops, door & quarter upper edges sprayed at the same time as the cowl & fender banding. Why would two different kinds of black be used?

The real dead give away to identify it is to clean it well and look close to see the metallic flecks.

Rick