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.
wood engraving
Call up a place that does engraving and ask where you would purchase an engraving machine.
You will have to find an appraiser who is familiar with them. Don't come up for sale often.
Browning can tell you how it left the factory, and the gun can be dated by serial number.