Hi guys,
I had the opportunity to personally examine the ring under a microscope and I can confirm that it is indeed a copy. A very sneaky copy. I would like to thank Ratisbon's auctionhall for allowing a personal inspection.

Upon initial inspection, one has the subjective feeling that one is holding an original in one's hand. The ring is really nicely cast, a very good job was done. The ring should give the impression that it is a scaled-down original. This corresponds to recasting of the skull and seam and a very small diameter - 17.9 mm (weight 10,5 g). Even the engraving is often over-engraved if it is damaged during reduction. I have already encountered such cases in my collecting practice. As I say, nothing that should seem particularly suspicious.
However, upon closer examination under a magnifying glass and later under a microscope, one discovers something very suspicious, which immediately catches one's eye - a modified Heilszeichen rune. And here I have to agree with Antonio in everything he wrote. The wax matrix has actually been modified to be nicer and better preserved. In doing so, however, the engraver made several fundamental mistakes, described by Antony.

This is a really dangerous copy that would probably confuse any beginner, maybe even an advanced collector. Here you are some photos...

Martin Toman