Without the decal...if you told me it was original...I'd have no reason to doubt it. The paint looks right in terms of thickness and age. If it's a repaint, it's a very old one. The one decal is off, like jjang noted...but I'm almost more inclined to think that's more likely to occur at the factory than in restoration. Overall...looks like a fun bike, and if the price isn't crazy, I'd be tempted.