It's genuine. But like with any other bags that look perfect, it's almost impossible to tell what may have been done to it in the name of "conditioning" so always check the seller's return policy in case there are problems.
You might also ask about the strap length, at that time the standard length was 44 inches including the clips but the seller says 38 inches. I'm not sure if
Coach was still offering any alternate strap lengths in 1997 but if they did, it's not mentioned in their catalogs. I'm wondering if the strap has been modified.