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The above 1920 Terni rifle also has the AT (Acciaierie Terni) mark on its barrel. Pardon the basic question, but does this only mean the steel was made by Acciaierie Terni and the barrel itself by the Terni arsenal? One more quick question, what does the cypher mean on the barrel as well?

Here is a photo of the Acciaierie Terni mark:



And the cypher on the bottom of the barrel near the shank:

 
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