Yes, it is true that the earliest Dooney & Bourke Bags (including the Equestrian Bags) had no authentication tag . Dooney & Bourke were also known to cut tags out if it went to an outlet store. Bag pictured made prior to Dooney & Bourke using the red, white and blue identification tag - authenticated Brass D&B Fob with backwards “D” was used in the very early days when D&B first started producing bags for only a VERY SHORT PERIOD therefore, these bags are hard to find Beautiful & consistent stitching all the same color- authenticated Suede interior- authenticated Adjustable strap-authenticated All brass hardware - authenticated Leather fold over clasp-authenticated Piping- authenticated Size - authenticated All Weather Duck Emblem sewn on NOT glued -authenticated Back exterior compartment Interior back zipper compartment The fob alone will go between $50-$60 Please let me know if you have questions