Actually, 86's could have them low or high dependent on production.
Note the high peg mounts (even with rim) in the pic in my avatar. That is an original '86 frame (bought as a F&F by me) with high pegs. I have a chrome 86 rider as well as another 86 NOS frame and fork set in my collection.
Radmeon and I have done a lot of research into peg location (as well as '4130' sticker types) and found a lot of inconsistencies.
One thing is certain: all 86's are chrome plated, and may or may not have had any paint over the chrome originally. If it is all chrome, pulling the bottom bracket usually exposes some old paint inside to determine original color, but, dependent on who stripped the paint (if there was any) this method is not 100% either.
Don't forget that the forks may not be original to the bike. The threads often stripped if you didn't run a Beartrap headset and/or keep it properly tensioned...