Hebrew hallmarks on antique Torah pointer

[Merm]

I purchased a silver Torah pointer ("yad") at auction that the auction catalog dates to the 18th century and "likely" Prague. The only two markings appear to be in Hebrew characters:

These seem to be the Hebrew letters pe (פ) and ayin (ע). The auction house has conducted hundreds of auctions in antique Judaica over the past 30 years, but they say they've never seen markings like this one. Is there anyone who can help explain the historical significance of two markings in Hebrew characters and suggestions for what they might refer to?

[Merm]

[Merm]

[oel]

In the book Crowning glory Silver Torah Ornaments of the Jewish museum, New York by Rafi Grafman, edit​ed by Vivian B. Mann. In Part IV. Pointers, we read; many pionters no hallmarks, some pointers have an inscription sometimes on back of hand or upper arm like ‎פ ‎‎א or ‎ה‎ מ‎ ‎ה, with the remark; The significance of the Hebrew abbreviation is unknown.

​This might be of interest to you, the meaning of the Hebrew letters pe פ and ayin ע
Pe before Ayin in Biblical Pre-Exilic Acrostics
https://www.thetorah.com/article/pe-bef ... -acrostics
https://www.hebrew4christians.com/Gramm ... /ayin.html
The meaning of Pe פ
The word “Pe” means “mouth” as in “I open my mouth and pant…” (Ps. 119:131) The definition doesn’t just pertain to a physical mouth, but also extends in meaning to “word,” “expression,” “vocalization,” and “speech”.
Genesis states that God created everything by the words of His mouth (Pe). The fact that the letter “Pe” has an opening on its left side shows us that God is still speaking.
Rabbis point out that “Pe” (mouth) follows the letter “Ayin” (eyes), suggesting the importance of seeing (understanding, having awareness) before opening the mouth. If this order is reversed, the result is mindless chatter. Heard any of that lately?
https://dinahoverlien.com/2020/07/29/pe ... uth%20(Pe).

Peter.