Abstract: The present invention relates to a novel retroreflective coating composition which can be suitably applied to a metal substrate using a conventional coral coating process and apparatus. The retroreflective coating composition provides a retroreflective film upon application by coral coating without additional processing steps. The retroreflective coating composition is comprised of (a) 45 to 60% of a resin binder system and (b) 55 to 40% of reflective transparent glass microspheres having a refractive index of 2.1 to 2.5 and a diameter of 20 to 60 microns. The resin binder system is comprised of a thermosetting ethyl acrylate-styrene copolymer, cross-linking resin, aromatic volatile solvent, anti-gelling stabilizer, colloidal suspending agent, dibasic ester acetate, and cross-linking accelerator, and have a refractive index of 1.5 to 1.9. Hence, the novel retroreflective coating composition can provide a retroreflective article with less manufacturing steps and at a lower cost.