Gunsmithing Removing caliber marking off a barrel

Yes. Often a Smith will machine a small flat or a pocket over the current chamber spec, and redo it. Such as going from a 6.5cm to a 6BR, etc.. if you set the barrel back that is.
 
If the barrel is stamped it may take a mill to remove it, but some are just laser engraved or etched and you can remove the markings with a buffing wheel or hide with cerakote.

You can use an engraver or take it to a laser engraver to strike through the old caliber and mark the new one near by.
 
There's 4 ways that I've done it.

1. Get your Tig welder out and "Bondo" the engraving with silicon bronze filler. File it down close, then spin polish the barrel to blend. Silicon bronze is what I affectionately refer to as "gunsmiths Bondo". :) It's made of awesome for dumb shit jobs like this. (I've also used Silver Solder but that fix is prone to porosity issues.)

-You will have to coat the barrel with this process afterward.

2. Tig weld with SS or carbon steel wire. This works well if your spin polishing/glass bead blasting the barrel after and leaving it "in the white." It just takes a little longer to blend than SB does. It also takes more heat. SB will puddle on top of the substrate where's filler rod actually has to burn into the barrel.

3. If the existing engraving isn't super deep, you can also just grind it out on a square wheel grinder between centers. (barrel polishing cassettes. -I make some badass ones btw :) )

4. File by hand and spin polish the blend out the tool marks. This works well for small stuff. I wouldn't suggest it for the typical OEM engraving that stretches for 3" down the length of the taper.