Stable aqueous aluminum flake dispersion

A stable waterborne high solids metallic flake pigment dispersion useful for direct addition to a waterbased coating composition consisting essentially of an aqueous carrier, film forming binder and metallic flake pigment and having a solids content of about 10-60% by weight;

• wherein the film forming binder consists essentially of a blend of about 10-60% by weight, based on the weight of the binder, of a phosphated acrylic polymer neutralized with ammonia or a primary, a secondary or tertiary amine and 40-90% by weight, based on the weight of the binder, of a hydrophobic alkylated melamine formaldehyde crosslinking agent and contains metallic flake pigments in a pigment to binder weight ratio of about 30/100-1000/100 and is non-reactive with the binder and the dispersion has a pH of about 7-9 and wherein the phosphated acrylic polymer consists essentially of polymerized monomers of alkyl methacrylate or acrylate or mixtures thereof having 1-8 carbon atoms in the alkyl group, glycidyl methacrylate or acrylate, hydroxy alkyl methacrylate or acrylate having 1-4 carbon atoms in the alkyl group where the hydroxyl groups of the polymer have been reacted with phosphoric acid.