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Antique Chip Manufacturing Variation

I recently found an old chip of a two ring design that is very different from the one I have. The chip on the right side of the photo has raised areas between the two white rings. It's very noticeable when held at a slight angle to the light. I shot both chips side by side to show the difference. Has anyone seen this style before?

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Antique Chip Manufacturing Variation
Good shot. I wonder if the embossed var. was first

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