For what it’s worth
Having done a bit of Typography and Calligraphy at college many years ago I see it as HC as there’s a cross bar coming from the H which a J wouldn’t have.
It’s quite hard to see its exact size, but assuming that’s fingers holding it on the left, it appears to be small.
It looks like small water jug, the kind you have on a bar or table when serving Whisky.
Without knowing its exact size I question if it has ever been a tankard as the opening seems small therefore difficult to drink from without bumping your nose.
Tankards tend to have a splayed base thus not easily knocked over as they are repeatedly sipped from.
The bulbous shape of this one looks more jug like, to hold a reasonable amount but look elegant with the narrower opening.
Last thought, it may not be a person’s initials but that of a hotel or upmarket establishment ??
