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It was definitely there originally. Could have been part of a package trim piece, F150 RANGER XLT. was taken off to paint and got lost. I’m sure there is no aftermarket replacement body trim for this molding.
If it was there from the factory it was a filler over the seem. it wasn't a bright trim of any kind the only trim there was the wide aluminum rocker trim.
That is unique and or very different for sure, but X2 as far as I know/understand or have even seen, there was NO factory trim or a place to attach brite trim (like the drip rail brite cover trim) like that, installed down there. At least it does not show any in the parts manual. The only trim on the very bottom was the 3" wide stuff. Maybe it was a dealership installed option of some part of a "package"? So good luck finding it. Is it like the cab drip rail and go all the way to the fender?
My SC has the same bead at the bottom. It looks like a rolled edge that was put in the bottom of the panel to give strength and keep it from flexing. It's on the bottom of the door too.
Well that sure makes sense, since I already sold my 4wd 79 F250 SC LB parts truck, I do not have one setting out back anymore to go check. I looked at the old pics of it and they are not really good enough to tell. This was the best deal on a matching pair of Dana 60 axles, with a (swapped in) 460 also and a complete truck still connected to all that. Maybe just maybe you can see it, I never really paid that much attention to the bottom of the cab.
In this shot the SC part has the giant rust hole.
Of course this pic is blurry....
In order to add strength it would have to be formed into the rocker. the OP's picture looks like it's either clipped or welded on which would be cosmetic.
It's interesting but it's not necessary. my '74 has been here since it was new and it doesn't have it so if you can't find what you're looking for don't worry about it.
I crawled under the truck to take a look. The part OP is referring to is bolted on with four bolts and has seam seal caulk under it. Most likely added so it matches the rocker panel under the door. I'm not sure if it helps stiffen the panel as I thought.
That would be purely cosmetic. why they did that is a mystery.
I think is to fill in a "something is missing" spot. The front fender has the reverse flip in the lower edge to blend with the exposed sill under the door, and this piece just continues the line. On a reg cab it is formed in the lower edge of the cab metal, but the line is there.