I remember Lauer name from this topic three years ago ... https://en.numista.com/forum/topic7224.html
and also remembered I found links to the Cambridge Museum, and that they had a lot of various toy coins in their collection. So on their site I searched LAUER CROWN 1902
Obverse
Lettering: IM:OF.ONE.CROWN.LAUER.NÜRNBERG.MADE.IN.GERMANY
Description: Head of Edward VII right
Reverse:
Lettering: 1902
Description: St George and the dragon
#2 Does the lettering read BORN NEXT THE CROWN and W L W letters? What about the other side - anything readable?
#4 I agree with Phil - we are seeing it now nearly two hundred years after it was made, so at the time may have been new and silver plated - to be passed off as the real coin. It only needed to fool one person and the forger was successful. Assuming that's what it is.