Looks like an old one, my opinion would be it is real.
Without tracing back known preprints, that would be my first guess. Pierce hasn't signed that nicely since his Remington Steel days. The white hair at his temples tells us that photo is about 20-25 years too late.
Aha! Thanks Pete, I had my suspicions, it was way too perfect for my liking. That's why I always check with you guys!
I share the same concerns as Pete