Nice one - P C and the small O looks like they could be punched, though as far I can see from the scan the other letters are typical examples of hand engraving. Its an interesting subject as there no doubt that the Romans would have known the possibility of the use of punches in die engraving, however seems in general to have preferred pure hand engraving. The Faustina coin in question does looks punched to me - especially the unbarred A and V as being the same punch. It should be fairly easy to prove by analysing a few high quality examples.
Here's another one where I've tried to colour some of the possible punches used.