Greg,
I remember that old silver asphalt wire from years ago. They use to use it all around this area in the 60's. I believe it also had a smaller grounding wire in it too.
When they use to make AL wires, they use to have black insulation on that wire.
Lastly, once when I first started in business, I found a job where the HO did all of his own wiring. I think I saw every kind of wire connecting everything together, Black wire, asphalt, zip cord, AC, extension cord wiring, etc. Plus that was just in one room behind the dry wall! I told the GC of the job that I couldn't guarantee any wiring unless the drywall was removed. So he had to remove most of it in order to be sure that the wiring was safe.