A friend who is not an Indologist has asked for help in assessing an inscription on an object (image attached).

Several questions arise: 1. Does the object look genuine or could it be a fake? 2. Is the Nagari variant compatible with the date of Saṁ 1354 (left vertical column)? 3. Is the language Sanskrit or a Sanskritized form of a different language? 4. Is it possible to figure out the meaning of the inscription (some of the characters are pretty worn down)? 

Looking forward to responses and with all best wishes, 

Hans/Hans Henrich/Hans Henrich Hock