Hi Richo,

Welcome! From what I can tell they are paint. I have been wondering if powder coating is the go for these bits! Has any one done this and is the standard Dulux powder black a close match to the Sandman black? (Tuxedo I think?)
Most of the untouched Sandmans I have seen that are getting on, including mine when I got it, have the black paint peeling off. Powder should last longer.

Chris