Mike, it says MG TC. If I may, allow me to provide a little background. I like MG's, and they are a prominent part of my Train layout.
The MG (Morris Garages) "T" series was introduced in 1936, thereafter, shortly before WWII a few changes were made, causing the T series model 'B' to be introduced. Hence, the earlier model was designated as the TA model. No one uses the word 'model' though, simply TA and TB. After the war, with minimal changes again, and to jump start the English economy, the MG TC was introduced and is credited for launching the "sports car' craze, especially among service men returning home. These three models are all Right Hand Drive with tall skinny (4.5" x 19") wheels look very much alike.
In 1950 the TD was introduced, a better suspension, Left Hand Drive, and people loved it. The last of the line are the TF's, headlights molded into the fenders, sleeker, faster, and still popular today. The TE was never made - I recall reading that the 'E' may have stood for Experimental, but who knows. The most important thing is that YOU HAVE A MG 'T' series on your layout. A 'tip of the hat' to you sir.
I am on my 3rd TC and drive it often, and here are a few photos of "Abington on the Thames', my train layout MG distributor.
The MG motto is "Safety Fast", although no longer a daily driver, it's great for around town, grocery runs and local car meets. Almost as much fun as Trains, and you've got plenty of them! Enjoy!