It is possible that the chain could be gold and simply marked 14 without the k or kt. I have seen older jewelry not marked at all. However, judging from the photographs I agree with your synopsis and the best idea is to just have the piece tested to find out whether or not it's gold. It's a good idea either way just to determine the purity. To me it does not have the characteristics of 14k. It is beautiful regardless, quite the piece!