Abstract: An aqueous coating composition comprising a film-forming material, a metallic pigment, phosphate inhibitor being either an orthophosphoric acid or an organic acid ester of phosphoric acid containing a group of formula (I): ##STR1## a cationic salt of one or more of the following metals: sodium, potassium, magnesium, calcium, strontium, barium, vanadium, cobalt, nickel, copper, zinc or silver; and a water containing diluent.