Thanks!
There are a few things about this bag that worry me.
The stitching quality seems a little "off". Look at the zoom pics of the tabs holding the straps, and especially at the way the piping is sewn along the sides and bottom. Granted,
Coach piping isn't always perfect with the exact same amount of leather all the way through on each side of the stitching, but this one just looks rough.
The "fixed handle" design worries me too. There aren't many other styles from that time period using that kind of handle design - newer Book Totes may sometimes use it but stiff non-moveable handles don't show up in many other older styles. The handles just don't seem like a Coach detail, but it's still possible. I know some older styles had that sort of handle but I'm not sure if Coach carried it through to the late 1980s or early 90s.
ETA - I notice that you bought one with an NYC creed that looks ok but that handle looks a bit more substantial. If the coral one is genuine it would probably be from almost the same time period. The red one looks like a Standard Tote style 9680 from maybe 1983. It looks like it had been discontinued some time before 1986. The coral one is similar to a Small Tote from the same line but the handle mounts are different and the creed is a few years too new.
The serial and creed seem to indicate a bag made in the late 80s to early 90s, but I can't find anything in my files or catalogs. Not proof either way since my catalog collection isn't anywhere near complete, but there also aren't any similar styles. Usually Coach would introduce more than one bag that shared styling details with others brought out at the same time. Here there's nothing similar in any other style. If it's real it would have to have been from some very short-lived line that was only in production for a few months and maybe only made it into one or two catalogs.
The color is VERY unusual for that time period. Coach usually stayed away from "feminine" pastels and I don't remember any genuine styles from that time period available in any shade of coral. The closest shade to it was a color called Terra Cotta from early 1993.
It
may be ok but there's no way I'd give more than a 50-50 chance.