Well you see Richard Petty's car had it so you would know the make from the top of a grandstand at 200 MPH. Thus is makes total sense that it should be painted on the 1/4 panel of this car, which might otherwise blend in a Costco parking lot.
However, I do smell a good deal. Read the ad's text...
2 door , 360 engine Automatic , need work or best offer !
Thus if you pay the full $1500, you're getting a car that will need absolutely no further work. I don't think I could say that about my own cars, and I'd want more than $1500.