Quoted from yendor0:No. Varathane clear water-based polyurethane (or Minwax water-based polycrylic) doesn't yellow over time. Same stuff a lot of people have used for clearcoating playfields.
Quoted from vid1900:Yes, water based Varathane DOES yellow over time.
Just because it says "non-yellowing formula" on the can, does not mean it won't yellow, it will.
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I like the idea of painting on a protective coating that would seal the decal under it on targets, etc. Maybe the yellowing is dependent on UV exposure, and in any case, the risk of a yellowed target is not as serious as a complete playfield.
I've tried using Mylar in the past to seal target decals, but it never sticks well and always has little air bubbles under it. I live in a dry climate so maybe the mylar glue is dried out already.
Any suggestions for something (else) that can be brushed on to protect the decal and keep it sealed to the plastic?