Jerry, Sine the second example is very tastefully done, and doesn't include a date stamped on the receiver ring, it may be that it was a commercial gun or hopefully a parts gun made from a commercial receiver.
I am sure you join me in preferring to think that a "real" Navy Luger wasn't sacrificed to create this one...
I DO like the engraving on this one, but it isn't something I would ever have done to one of my guns.
The only engraved gun I own is a Beretta O/U skeet gun (Model S56E) that I bought in Africa back in 1973... it was factory original engraving on the receiver. It was/is nice to look at, but it never made my Skeet scores any higher