Like I suspected, this is a Madison Biltmore made in 1996 in Italy. Although the creed wording isn't readable, all Madisons of this type were made in Italy and the "E" in the creed indicates that. The "M" stands for the month of production, which is December, and the "6" is the year - 1996, since
Coach started using this numbering system in 1994. The color is rare. It is not a Cashin design nor is it very similar to a Cashin bag. The Madisons were a departure from the original thick soft leather used by Coach. The bags are structured and stiff, very elegant, and the pebbled leather is similar to caviar leather. The size is close to the current Willis.