I'm new to this so before I read comments I try to form some sort of opinion on the coin. The first thing that I thought of was the color looked unusual for its striking appearance. It still has some eye appeal.
About 3 years ago I bought a few cheap LWC from nancye as a test. The "color" rinsed off easily with acetone revealing a normal, chocolate brown, circulated LWC with wear and contact marks consistent for the grade. They were actually worth about what I paid.
I'm surprised this has been going on for so long. For $8 you will likely end up with an AU coin worth $4. Not a big deal but I'd like to warn the innocent!
This seller is a known coin doctor. I can spot one of their coins from a mile away. Just like Brad, I bought one years ago and the color rinsed right off with acetone and xylene.
Not sure if it's still easy to bust him, but if you look at the problem coins he buys you can figure out what he's doing. We found few he bought and then sold...you could tell they were the same coin but painted.
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