definitely hand-lettered.

if there were more photos, I could confirm this, but it looks like the reflective qualities of the hand-lettered black are different from the porcelain black, implying it is a different material - probably good old black paint applied with a brush.

whoever did that hand-lettering did a damn good job of it! these days, you can't get that quality out of 99% of people even if they have a computer at their disposal.

any questions about road signs - authenticity, value, etc - ask away!

the AARoads shield gallery - over 10,000 historic highway marker photos

San Diego, CA - US 80, 101, 395