I'm no expert but it looks like a repainted shell (black paint in the pitting) and the decal looks new.
IMO a fake.
Wait for the more experianced guys to give their opinion.
as said repaint over old shell and the decal is fake, also the liner is post war, as the original would only have eight tongues on it not nine. hope this helps.
The decal is the well known "round bottom" fake applied over a pitted and post war repainted shell. The liner is a post war West German adjustable liner, with holes/perforations on the brow.
Hi Nicola, I agree with all the members comments.
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Obviously this little gem won't be listed on Ebay as genuine! I'd hazard a guess & say Ioffer.