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The great thing about early Admiral TV's is they are such great performers. The restoration would be a complete "labor of love" because, even in excellent, restored condition, it would be valued low. The thing that would worry me is that the black paint likely ruined the blonde finish underneath. You'd have to create a sort-of faux blonde finish. I've seen it done before, not sure where, with either paints or stains and it does come out looking pretty good.
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