Rear Sight Transfer Stamp needs fresh eyes

[painter777]

Just posted part of this on The CCCF in the miss stamped area.

About 10-12 years ago a local came by to use my tools to R and R his rear sight.

Here is a Shielded H over stamped with either P.I. or H.I. that came off his Inland 5,219,??? mil that the guy put a Repro Flip on. He was here because I had the tools and said he was going to keep the sight.
Barrel was Inland 5-44 with round bolt and Type II band marked //.
I tried to talk him out of it because it, IMO was a Original Carbine.
Me having a crisp 5,219,465 just like it about ~350 numbers away, best I can recall his SN#. My sight is HI with No periods between letters.

I thought it was a H.I. Over Stamp all this time, Until looking at the picture again today.
I'm now wondering if the Shielded H is Over Stamped P.I. or H.I.

Anyone willing to take a guess ?

Information

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[SRiverrat11]

It looks like the H is over the P to me.

[jond41403]

Looks to me like the initials H. I. Are stamped over the H in The shield. The reason being is because it looks like I can see both of the bottom legs of both letter H's. The heavier stamped H. I.,obscure the original H in The shield to my eyes. I think the P is just an illusion of both H's coming together in my opinion.hth

[jimb16]

We are all seeing things. It looked like an R.I. to me. Might just be my new glasses!

[imntxs554]

Now why would this be done anyway ? Kinda strange to me, but if it is a P it looks much shorter than the I in the typical P.I. stamped ones.