I have a commercial etching system, .010 depth is not an issue (deeper than many roll marks).
Just going thru plausible and period correct processes.
Clearly the markings on the barrels were engraved, then barrels were rust blued. They needed a quick way of marking the winners name.
Roll Stamp? Not practical for a one off, and it would take quite a bit of time, remember, most period roll dies were hand engraved.
Engraved? Very possible, but the marking looks too uneven for it to be engraved, they are not exactly in line, and the letters really dont look sharp enough to be engraved.
In my mind it really looks like an etch, notice that it kind of looks smeared or cloudy; very evident on the C, the O and top of the N, which an etch would produce, especially if you dont have the stencil tight against the metal. The spacing and lack of perfectly straight lettering is very reminiscent of pre WWII typewriters.
An etch would be a very quick and practical way of putting the winners name in place after an event, could really be done while the winner waited. If properly done the stenciled etch would only burn thru the bluing where marked, so the bluing would not have to be redone.
The fact that the lettering looks bright and not tarnished, makes me think it something other than silver. On Winchester 1 or 500 and 1 of 1000 they used platinum inlays on the bands, also platinum was used quite a bit on sights. Pre computers and semiconductors, there wasnt a lot of uses for platinum, and it was actually cheaper than gold and didnt tarnish like silver
Just a thought
