Classic & Vintage - Removing the emblem to paint a frame

I'm painting an old Raleigh frame and fork, and I'm curious if there's a way to remove the front emblem to paint the frame without having to mask around it. It looks like it's driven into the frame with nails.. But if I do remove it, I want to be able to put it back on. Does anyone know how to do this?

-Thanks

Also, after I paint the bike I'll take it to the LBS to assemble it, and I want to upgrade some components. What are the most important things I can do to it without spending a bunch of money? I'm going to ask them for new nuts and everything because most of them have surface rust, and maybe brake cables.

Here's a picture
I got the bike for $100

The nails are really rivets, most likely brass, which are flared out in some way inside the head tube. The best way to remove them is probably to drill them out. You need to center punch the head of the rivet very accurately so the drill bit doesn't slip. You don't need to drill right through the shank of the rivet. It should be sufficient to take out the head. As long as your bit is accurately centered, you can start with your thinnest bit, then work up through a couple of sizes until the head becomes detached from the shank. The latter can then be pushed through with a pointed tool, once the badge is removed. Options for refitting the badge are limited. Brass rivets are available, but I've never seen any as thin as the originals. The type used for leather work would probably take up too much space inside the head tube to allow the fork steerer to turn. You may wish to consider some advanced type of adhesive.

Yeah, they are easy to drill out. I've done it on a Peugeot. The drill bit to choose will be smaller than the dia of the head, but slightly larger than the dia of the shank. Drill slowly and carefully and watch for the rivet head to start slipping or spinning, then stop. Remove the badge, then you can drill out the shank with a drill bit approx the same dia as the shank, maybe a little smaller. I think this is how I did it.

After the frame gets painted, the new owner will use a rivet gun (he's a mechanic so he's got skills and access to equipment).

Reriveting is really easy. It's almost literally point and click.

http://www.youtube.com/watch?v=onVeVwat_tg

You can pick up a rivet tool and rivets at Home Depot/Lowes for ~$10.