Covered but not polished, I got out my lupe and took a close look. Either way, By-Tor said that the SEL coverage wasn't an issue, and I agree with him. You can't really expect me to believe people are going to notice the sides of the SEL that's only about .030 at the widest point? This watch has so many positive things going for it, I'd say this is a nonissue. Look at that dial!