A few days ago there was discussion about whether the Carlo design was a mold. Of course, it is an old engraved design as coded by Dale Seymour. However, it was treated a little differently at times. Distributors did hot stamp club names on them and The manufacturer applied inlaid designs over the actual chip design. I am not aware of other antique chips that have the inlay embedded over the chip design. The engraved design takes on an embossed look. Did this have to happen when the chip was being made? I would have loved to have seen the process.
I have another chips with a different style. It appears that the white inlay was put down first then the Elk was molded and inked over that. Again, I would have liked to see how that was done.