I am not sure what that is on the side, but it is not a 427 emblem. I tried to blow it up and it is nothing like the 427 emblems on the 64 Galaxie. About the only thing I could get clear was that whatever is in the center looks like the number 1. Whatever goes out to each side doesn't look like the wings on my 427 emblems. But my photo program is a cheap one and when I blow it up enough to read the 1, I lose all the rest. Maybe someone with a good photo program could blow it up and keep enough contrast to tell what it is.
Ron
