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Real Photo postcards are actual photographs developed from a negative directly onto photographic postcard stock. Each postcard was hand processed and contains the incredible detail of a normal photograph. (Notice the sleeping dog on the porch of the Hotel Woolever.)
Lithos are copies of photographs that were hand-engraved onto metal plates and then printed in a mass production process. Litho postcards were usually hand-colored. Much of the detail of the original photograph is lost in this process, but these were the earliest "color" postcards.