Is It Real Or Fake ?

I don't like it. Looks somewhat suspicious.

the portrait is like C#93 in world coins (VF $1,500 - XF $3,200) BUT 1821 L is C#105 .I don't know if there is L before 5 on C#93, world coins picture is bad.
I am in doubt....

I think the angle of the picture might make the coin look a little strange. I'm no expert but I really don't see anything that makes this coin look off. You can see the L next to the L5.

I'd like to see the denticles around 8 o'clock on the obverse a little closer. I can't tell if the picture is washed out there is something going on there. I'd also want to see the mint mark closer to see how clear the L is.

Just to put in my Two Cents worth -

I am not an expert on the Italian series, but I do know that their die making expertise exceeded the US and many other countries at that point in time. So the primary die features and the uniformity does not bother me at all - in fact uniformity is precisely what I would expect. Italy was also using a closed coining chamber at that time. The coin is a collared strike and the edge should show traces of the joins between the three sections of the collar die. The sections were lettered. So the edge would be interesting - a reeded edge is wrong as is a plain edge.

There was a very well done replica series produced a while ago that includes many of the scarce crown coins. I do not have a complete list of the coins produced but I have a dozen or more varieties in my collection that belong to that series. I would be a bit worried about this coin being one of these silver restrikes.

The only problem I would look into further are the dentils (or beads) near the edge - on both sides. There are a few spots where they are rather irregular and it could point to a die made by a transfer process that was corrected to remove some prominant damage on the host coin. In particular on the date side at 7:00 position the beads fade out and start to look like rectangles. (This could be simple damage - i.e. the coin being slightly crushed at that point. On the shield side there is a similar area near 6:00 where the shape of the beads changes. (If the dies were slightly rotated and these two areas are alligned - check for post strike damage. If these are both die features suspect a forgery.

The best advice is to KNOW and TRUST the seller. The coin is too scarce and valuable to spend a lot of mooney on a modern fake or even one of the restrikes.

This coin was artificially stained to look toned, so it appears. Plus the rim and beads look much more "primitive" than the 2 of these I've seen before. I suppose that can also be from dings or wear. Personally, if I saw it for a good price I would take it.

Is it exactly 25.0 grams? If it is even 1/10th of a gram higher, that would solve the mystery!