The rear sight appears to be painted at the same time the slide is painted.
I tapped the rear sight over to center with a brass 1/2" round stock and
the paint chipped off.
I've examined two C100 pistols that a buddy of mine (forum member flyingbrass) and myself changed out the rear sights on. Under both rear sights was bare metal with rust deposits on them. Because I'm set up for refinishing in my garage I taped off the slide, blasted the dovetail and parkerized it.
Cerakote, the paint that's on the pistol, seems to flake off when impacted on our pistols too. I use Gunkote to refinish and it does not display this adverse behavior. I've never refinished anything with Cerakote myself, but from what I can see I'll never refinish with it. I'll stick to Gunkote which when applied is about as half as thick or less than Cerakote, which has a lot of advantages.
Also, I'm getting a lot of finish wear with the use of holsters on both my Stingray-C and C100.