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If the car was to get full wheel covers the outer face of the rim was painted black. If it was to get dog dishes, the rims were painted body color on the face.....
At least that's my understanding.
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When I was researching this four years ago (for my '67 Camaro) the consensus here was that if the car came from the factory with the base dog-dish hubcaps it got body-colored wheels. If full wheel covers were installed at the plant then the entire outside (wheel face) was painted black. If a buyer of a base-hubcap car chose to have optional wheel covers installed at the dealer then the dealer was supposed to paint the wheels black but this was not always done. Therefore, sometimes cars had full wheel covers added at the dealership but the wheels were left body color.
Yeah, I know:
