OK Fernando, that was the point, it is a spurious use of the name, so obviously the punzone (or is it punSone?

) is absent.
With the erratic letters in the inscription which are almost crudely executed I fear this is even beyond the usual Solingen placement, and with the number of rapier examples that have been in circulation using the Francisco Ruiz name (a number are less than authentic) I wonder on this.
Could it be a Solingen blade with poorly applied letters but of the period by a maker without the usual rack system?
The apparent crescent is a conundrum in itself, is this an equally inept attempt at the 'espadero del rey' mark?
I do not like negatively questioning a weapon, which is otherwise a most attractive and interesting piece, but these factors must be considered.