  We have systematically investigated the magnetic, electrical, and structural
properties of RuSr2GdCu2O8, in which a long-range ferromagnetic order and
superconductivity have been previously reported to coexist. Based on the
reversible magnetization results, we conclude that the bulk Meissner state does
not exist in this compound and that the condensation energy associated with
superconductivity is negligible. The absence of a bulk Meissner state and the
superconductivity detected are thus attributed to the possible appearance of a
sponge-like crypto-superconducting fine structure in RuSr2GdCu2O8 samples that
are found to be chemically homogeneous to 1-2 mu m and electrically uniform to
\~ 10 mu m across the sample.
