another old yataghan in my collection

[Conogre]

Are those decorative circles on this piece?
With the one on the blade in particular and the depth of those on the hilt almost seems to suggest that it was inlaid with something that has fallen out, such as a brass dot on the blade, while the hilt may have been pieces of bone or MOP?
It's hard to tell with the very small photos, but is this a possibility?
Mike