Well at first glace I'd say it's okay -- one thing that sticks out though is the model # on the creed is 7458 (or at least that's what it looks like).. and on coach's site, that corresponds to a similar bag, but in leather not signature
see http://www.coach.com/assets/product_images/drilldown1/7458_d1.jpg
So I guess I'd say most likely it's authentic.. but maybe wait for one of the other tPF members to check it as well.
She just sent me a picture of the creed. I have to figure out how to pose it here. The creed says 7469 on the picture she just sent.