I believe they are a factory ford hubcap and trim ring , however in all my resource and reference book I cannot find any pictures of a mustang with them.
I do remember a friend having similar set up on a 1977 Maverick
BUT anything is possible
My father had a 73 Grande but the hubcaps didn't look like that. We did have a 73 Gran Torino wagon too that had a similar wheel, but the center was different. I'm another one that thinks LTD with that crest too.
If he's the original owner and bought it from the dealer it's possible he bought the car that way but I doubt it had those center caps from the factory. The center caps may have been lost or stolen while it was on the lot and the dealer had those hanging around that they installed. There was a 71-73 Mustang wheel that had a trim rind and a plain center cap with a black stripe and "Ford Motor Company" on it going around the perimeter. I have a complete set of them in my attic.
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