It's a real Leica all right. A Leica I from 1931 from the looks of it, that has had all of it's black paint scrubbed off. The serial
number was in front of the cold shoe, but since the numbers were not deeply ingraved, the number disappeared with the
paint. The German text for on/off on the bottom cover would indicate a European market model. With the black paint
removed, the camera has little value to a collector, but would make a very good user to walk around with.