Engraving is basically carving in metal. An engraver uses a small chisel and hammer to cut lines into the steel of the gun. High quality engraving is done by hand, not by machine, and is done freehand- no mechanical guides.
It is more properly called engraving or embellishment.
A Sousa grade Ithaca should have engraving on almost every square inch of the metal. If you have no engraving, you have a field grade gun.
This gun was made in 1938. If engraving is of hunting scenes, then it is a grade 3. Otherwise you have a grade 1 with scroll engraving. Value is too vast to quote without inspecting. Take it to a gun shop for appraisal. auto5man
You have a standard Auto 5 shotgun with grade I engraving. The initials PV that you refer to are a proofing mark which is found on both the receiver and barrel. PV stands for "Poudre Vive" which means smokeless powder.
A custom stock, engraving, inlays of fancy wood or precious metal.
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It says not to use slugs so you probably shouldn't. Follow the engraving.
Too many variables to give good answer. Take it to a gun show near you, or search the internet gun websites.
Call up a place that does engraving and ask where you would purchase an engraving machine.
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You can find information about engraving machines at www.customengravingcompany.com and www.hflaser.com/Laser-Engraving-Machine.htm.