See the picture below. In looking at the dial more closely under 25x magnification, I can see the varnish cracking, but the gold spots 'almost' look like they belong, but that doesn't make sense to me, and I have been unable to find a picture of this exact dial online, so I'm not sure
Any of the experts in here know?

Pictures attached for reference.

 

Maybe the "gold" is Brass metal of dial showing through the flaking black?
Need more and better hi-res pics, but SWISS MADE is not centered wrt to cross hairs. 6 looks a tad off center (too far to the right).
Might these be redial red flags?

 

OK, follow closely.

These black dials are plated not painted.

The gold is actually under the black, three layers plus the dial itself. Gold laid down first, black second, protective lacquer on top, which is what is flaking off.

One of the easiest way to spot a refinish is seeing the gold printed on top of the black.