As a stone inscriber from way back I’d say someone took his time with these . They look like “raised letter” inscriptions where you knock back the background rather than cutting the letters themselves into the stone.
It’s a lead bullet, so the maker probably inscribed the lettering into the sides of the mold.
A very human thing to do. Today they write things on bombs, Russians launched a deadly drome of Kiev on Christmas—On the wing someone wrote “Merry Christmas” in Russian (and some other stuff that wasn’t translated).