The system and method of the present invention forms an item specific pattern on a plain or holographic metallized film or hot stamp foil, including an embossed substrate with or without holograms. A piezoelectric ink jet printhead includes a plurality of ink jet channels and respective ink jets that receive an etchant-resistant mask material for ejecting etchant-resistant mask material through the respective ink jets onto a metallized surface of the metallized film or hot stamp foil. A controller individually and digitally controls the ejection of etchant-resistant mask material in a programmed manner for ink jet printing on the metallized surface a unique pattern of etchant or etchant-resistant mask. Etchant etches the metallized surface into an item specific pattern using subsequently applied etchant that exposes the metallized surface devoid of the etchant-resistant mask.