It's not Fake, it's just nothing special, to suggest because the vinyl used doesn't contain enough pigment to stop light being shone through it, it should be worth an exorbitant amount, is ridiculous.
From someone who writes about the The Smiths for record collector...
Yes, Irish pressings are a genuine thing. Labels and sleeves were shipped over from the UK, but the records themselves were pressed in Ireland, mainly at a Dublin factory called Carlton Productions (Carlton or CP is sometimes etched into the inner grooves). The main characteristic of these pressings is that they used a different vinyl ratio to UK factories, leading to the transparency (this is not just a Smiths thing, it applies to loads of different artists). Almost all Smiths releases were pressed/released in Ireland, but the Holy Grail is the Irish 7" of Last Night I Dreamt That Somebody Loved Me, with solid labels - I think the last one sold for about £300. All the best, Mark
This is the relevant comment substantiated by the writer from 'Record Collector':
"Actually, these Irish pressings are legitimate. They were cut in Ireland at Carlton Productions. For everyone who says that these are cheap pressings, these are certainly not. They are not thin. I compared my original UK RT copy (A1/B1) of Meat is Murder on black vinyl with my Irish translucent pressing of Meat is Murder and I found the Irish pressing to be heavier and more sturdy. The reason why these are translucent is because Carlton Productions used Quiex II vinyl formula. I also compared the sound of the two and both are quiet pressings with great sound. They probably used the same master for both, or at least both were mastered by quality engineers. I'm selling my Irish pressing of Meat is Murder on ebay now because I need the money, if anyone is interested."
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