Raw metal Arlie, The hoods were assembled in raw metal, painted, then the holes cut, so there would be no paint between panels and would be exposed when the holes cut. Of course there are always examples which make you wonder. Most original examples I have seen were rough cut, no paint inside hood, hole not deburred. Below is a picture of an orignal example (Ed Bodah) which appears to have black paint inside hole and body color on edges of saw cut, with an original second rotation number still present, indicating no repaint. Adds fuel for a debate, but IMHO, the hole should be rough cut, no paint touch up due to many I have seen. The second photo, #51, is my car and detailed to match examples I have seen.