A method of preparing a physically drying coating composition including a binder composition of components A) and B), wherein component A) is a polyurethane containing a carbonate grouping and having a number average molecular weight of 70,000 to 500,000 in the form of an aqueous dispersion, and wherein component A) is produced by reacting:
- a) 10 to 40 wt. % of an organic polyisocyanate which does not contain any hydrophilic groups or groups convertible into hydrophilic groups,
- b) 40 to 80 wt. % of a high-molecular weight organic polyhydroxyl compound which does not contain any hydrophilic groups or groups convertible into hydrophilic groups and comprising at least 50 wt. % of a polyhydroxyl polycarbonate,
- c) 0 to 18 wt. % of water or a low-molecular weight compound containing at least two functional groups which are capable of reacting with isocyanate groups and which does not contain hydrophilic groups or groups convertible into hydrophilic groups,
- d) 0 to 8 wt. % of a non-ionic hydrophilic compound containing an isocyanate group or a group reactive with isocyanate groups, and
- e) 1 to 12 wt. % of a compound containing an ionic group or a group convertible into an ionic group and a hydrogen atom reactive with isocyanate groups,
- and wherein component B) is a polyurethane containing carboxylate acid ester groups and having a number average molecular weight of 20,000 to 100,000, in the form of an aqueous dispersion, and wherein component B) is produced by reacting:
- f) 10 to 40 wt. % of an organic polyisocyanate which does not contain hydrophilic groups or groups convertible into hydrophilic groups,
- g) 40 to 80 wt. % of a high-molecular weight organic polyhydroxyl compound which does not contain hydrophilic groups or groups convertible into hydrophilic groups,
- h) 0 to 18 wt. % of water or a low-molecular weight compound containing at least two groups capable of reacting with isocyanate groups and which does not contain hydrophilic groups or groups convertible into hydrophilic groups,
- i) 0 to 8 wt. % of a non-ionic hydrophilic compound containing at least one isocyanate group or at least one group capable of reacting with isocyanate groups, and
- j) 1 to 12 wt. % of a compound containing at least one ionic group or a group convertible into an ionic group and having at least one hydrogen atom capable of reacting with isocyanate groups,
- wherein said physically drying coating composition is prepared by forming a binder composition containing 10 to 90 wt. % of component A) and 90 to 10 wt. % of component B), the percentages by weight based on the weight of solids of components A) and B) adding to 100 wt. %, and then admixing
- 8to 30 wt. % of said binder composition with:
- 50 to 85 wt. % water,
- 1 to 20 wt. % of a solvent,
- 0.3 to 4 wt. % of a metallic pigment,
- 0 to 10 wt. % of a colouring or decorative pigment, and
- a neutralizing agent for obtaining a neutralization degree of 40 to 120% in the neutralizable groups of the binder composition;
- wherein components A) and B) of said binder composition have different number average molecular weights such that the number average molecular weight of Component A) is greater than the number average molecular weight of Component B) and wherein said physically drying coating composition is curable at about 20.degree. to 60.degree. C.