Hopefully its just the picture, but are those lug holes chewed? Looks to me like someone used acorn lugs on mag lug wheels.
Lots of good information at the here and worth the read if you like old wheels and/or have hazy memory (don't we all?) of lug specifics.
http://www.tirereview.com/staying-sa...off-accidents/
"Lug Nut Know-How
Going back before many of us, including myself, were even born, the Mag style lug nut was common on Cragar S/S, Keystone Klassic and American Racing Torque Thrust wheels, among others. I still sell and install many of these types of wheels and lugs, especially since the muscle car market continues to grow. The Cragar and Keystone wheels are built for tri-lug fitment, which means you can use the same wheel on a 5×4.5, 5×4.75 and 5×5 (1/2-inch stud only) bolt pattern.
This can be one of the most difficult wheels to install and center on a vehicle. First of all, make sure that you have the correct length shank. Most of the wheels mentioned here use a 3/4-inch shank, which is measured from the bottom of the hex to the tip of the lug nut.
You should have about 1/8-inch of clearance between the end of the shank and the mounting surface of the wheel.
There are other Mag shank lugs with varying lengths. Each is designed to fit a specific wheel application and will also need a washer, either separate or built on. The washers are quite a bit different, as well. Take a look at these Cragar style washers.
Notice that each has a round outside diameter, but one has the hole punched in the center and the other is offset. The center-punched hole washer is for 5×4.75 bolt patterns. The offset washer is used for 5×4.5 and 5×5 bolt patterns. Notice that the washers are stamped “wheel side.” Make sure to place this side toward the wheel surface because the washer is concave, which assures that constant tension is being applied to the lug nut.
The Keystone washers have an oval outside shape and are flat. Center punched and offset versions are used for the same applications mentioned above with the Cragar.
The AR Torque Thrust uses a plain round, center-punched washer for each of the bolt patterns.
The next progression was the ET Mag.
This is a conical seat lug nut with a short – usually 1/4-inch – shank at the bottom. The original wheels required this lug, along with a special washer that was beveled around the punched hole to allow for the lug nut to seat in the center of it. This wheel application isn’t used today, but the ET Mag style lugs are common.
...."