Rick, it isn't varnish or shellac. The smell of paint is obvious. If it was only the blade i could imagine it was done as an act of protection. But also the hilt and the upper part of the scabbard gives me doubt about the true reason.
Atlantia, I wil use the damp method. I always want to do the things careful and with ltc.
Robert, I'm married, but decided it was safer to rob my daughter from her fingernail polish remover and tested it. Seems to work well. To keep the peace with my daughter i will buy the remover and cotton buds myself.
Maurice, with the help and advice of everybody here and little tests with the non agresive methods, i think with some work it should work to get rid of the paint. And as Atlantia said the paint is black so the remains in the little deeper crevasses can give a rather natural look.
When i cleaned the blade i will give it an etch for a more natural look.