This is the dial, in a 2584-2480 watch: In more detail (8X): And 10X: You can see that the big golden numbers (3, 6, 9 and 12) are recessed, and the dial is composed of three layers. The center-bottom of the number is the deepest, likely the metal dial itself, and is bright and polished. The border of the number is made of the second layer, which looks like is made of small gold particles. That is the layer that is commonly thought to be electrodeposited, and is visible through the paint in some parts to form the text of the dial and also the minute tick marks (50X): On top of that golden second layer is the black paint. In this dial, the gold particles have "surfaced" through the paint, like the black goop was melting away: