John, mine is also spot welded. It has definitely seen better days and I had to take it to bits, de-rust most of it and remove a load of gunk from its innards, so I don´t suppose that it is a repro. The acceptance stamp (if that is what it is) is hardly visible. It has no B/N or AEG stamp. So I assume that the loaders were made by sub-contractors, as was usual at the time. Like much Luger ware (grips, muzzle protectors snail drum protectors etc) almost anyone with the necessary know-how could make a repro that is identical to the original. I suppose ageing and rust pitting could be the main indicators of a genuine article.