Nope! It's called a medallion engraving -- a clever way that banknote companies used to mimic a 3-D seal. These were created using what's called a ruling machine, which dragged something like a fine-tooth comb over an object. The machine converted the ridges into an engraving very similar to a topographic map. It tricks the eye into seeing it as dimensional. This process used to be used quite often on obsolete banknotes, as it was very difficult to counterfeit. If you look closely, I bet you find many examples.