Repro.
Same stable (Martin Marsh catalogue) as this fake MGC RND
https://www.ebay.co.uk/itm/WWI-ROYAL...9a64%7Ciid%3A1 note the lack of definition behind the crown and they’ve just stuck a couple extra loops on.
Many of these fakes have a abnormally wide aperture between the pearls and cross at the centre of the crown.