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Polymeric core-shell systems were produced by a two-stage emulsion polymerization technique under fixed conditions: i) monodisperse seed latex with a sufficiently high particle number; ii) starved monomer-II addition; iii) water-soluble initiator; iv) incompatibility of core and shell polymer. From electron micrographs, it is not possible to determine where the second polymer is located within these two-stage emulsion polymers. The internal structure of the particles can be detected by small-angle x-ray scattering. The results indicate that; i) the emulsion polymerization process takes place in a small surface layer region of the seed particles, and ii) a small interfacial layer exists between the core and shell polymer.