I know a (very) little bit about commercial printing and lithography. I've seen machinery from the 1940s that look like they are a zillion years old (and that's a good 30 years after T206). To truly reproduce T206 cards, you'd need similar machinery, paper and inks.
While it is probably technically achievable to reproduce commercial lithography from the early 1900s, the fragility of 100 year old paper stock and the recreation of age-specific details should be detectable under magnification (and likely with the naked eye). It would also probably be very costly unless done in significant quantity.
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