I don't think it is painted. The picture makes it look gray but it really isn't. The finish looks identical to that on the "traditional plate". I wonder if the fit was just so good that they left it alone without having to shape it. Oh well, there are many Winchester mysteries. Maybe a different subcontractor or something. I know there are variations in these pre 64 featherweights as Winchester had a habit of doing what they needed to do to get rifles out the door. Cwertianly true of their M1's during WW2. Thanks for the replies.