there is a slight bend or indent where the L charm had bent in the middle, not easy to see, still looks good but will probably be more prone to bending in this area again if handled roughly.  

I am not sure if the diamond chip is real, I'd assume it is since the letter and chain are gold and it's quite small, however I have no way of testing it.  Enlarge and view all pictures for best detail.

I'd guess this is around half a gram maybe more, my scale does not read under one gram. Gold necklace stamped Italy is included with charm.