Flying Eagle Cent Prices

Sounds harsh but so true.

Yeah, being that he is your friend I would just drop it. He might be into the coin for that much and has no idea that he got taken. Or conversely, he knows exactly what is going on and is a complete dick. Either way for $110, you could find a much nicer coin. Good thing you did your due diligence here first.

I would recommend in the near future investing in either a copy of Photograde, or a book that I like even more: Grading Coins by Photographs by Q. David Bowers. These guides provide excellent high quality photographs of coins in all kinds of various conditions. If I go to a coin show I take it with me, and its prevented me from making more than one bad purchase. Also pick up a greysheet. Go to greysheet.com for some information on ordering. Even having an old guide will give you a price range on what different coins should go for and you will be better equipped with these two resources to know what a coin you might be interested is graded at and what you should pay for said coin.