For Sale Mercian Reynolds 531 competition 58cm C to T seat tube cantilever VGC with headset and Mercian stem £125,00

That "frame number" looks like previous owner's Edinburgh post code. A pukka number would be, typically, 12388. I.e
123rd frame made in 1988. Often accompanied by a single digit identifying the actual frame builder. E.g. 6 = George Bryan. And you shouldn't need a magnifying glass to read them!
Ha ha, I assumed that was not the frame number, but the rest of the frame looks genuine to me, almost identical to the 52cm KoM frame I have for sale futher down the forum. Except mine has the wrap over seat stays unlike this one. Mine is a 1997 and my assumption is that this one is a later model.

Do people really go so far as to recreate the "MERCIAN" stamped seat stays to fake things?

EDIT TO ADD

Just looked up te postcode. EH332PR is Winton Ct, Tranent just to the east of Edinburgh. :)

 
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Ha ha, I assumed that was not the frame number, but the rest of the frame looks genuine to me, almost identical to the 52cm KoM frame I have for sale futher down the forum. Except mine has the wrap over seat stays unlike this one. Mine is a 1997 and my assumption is that this one is a later model.

Do people really go so far as to recreate the "MERCIAN" stamped seat stays to fake things?

EDIT TO ADD

Just looked up te postcode. EH332PR is Winton Ct, Tranent just to the east of Edinburgh. :)

I don't think there's any doubt that it's a Mercian. A frame number should definitely be under the bottom bracket. If you can be arsed to remove the forks it'll be there too, on the steerer, and easily read.
 
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