Hi Marcus,
The initials GGV would certainly be those of the owner; i don't see makers marks being engraved in such manner ... and in such place. The person depicted my well be a close to real portrait of the said owner; or just a symbolic atempt to portray a famous person of the period, apparently a high ranking officer. There was a preoccupation to make the musket also look real; bayonet, percussion lock and all.
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