The description relates to physically drying water-based coating agents. They contain water, metallic pigments, optional other pigments, neutralizing agents, conventional additives, small proportions of solvents and a binder mixture consisting ofA) 50 to 90 wt. % polyurethanes with carbonate groupings and a number average molecular weight of 70000 to 500000 based on reaction products of polyisocyanates with polyhydroxyl compounds, with a content of polyhydroxy polycarbonates andB) 10 to 50 wt. % of carboxylic acid ester groups containing polyurethanes with a number average molecular weight of 20000 to 100000.They are particularly suitable for manufacturing metallic lacquers for repairs in the motor vehicle sector.