I have tried Don's method, but it melts the texture off the inlay, and can leave fibers from the Q-tip stuck to the inlay. I have done better with a fine tipped tweezer. I use it to put a tiny drop of acetone on the hotstamp and then quickly blot it with another fine tip tweezer with a cloth over it. This is a lot more work, but gets much better results. I have a Castaways chip that someone did a fantastic job of lifting the cancel from. He must have better tools than I. I also have a Castaways canceled chip that has the hotstamp burned completely through the plastic. I won't even try to remove that one.
Be carefull with acetone. It is highly flamable, poisonous, and will melt many things.