I've had good luck painting the whole thing, letting it dry really well (a week to 10 days) and then using wet/dry 1000 grit paper wrapped around a piece of wood. Sand it gently (wet) until the silver appears. When the chrome has been worn off or isn't in good condition, I've painted the whole thing with silver epoxy paint (like appliance paint), let that dry really well and spraying the top coat later and sanding until I see the letters appear. It works but it takes patience and a light touch.
