I have to believe that being a seller for the last 14 years with 100 percent feedback, and not being a coin specialist, that this is an honest auction.
I once bought a box of "no feet" Pez dispensers for $20. I knew NOTHING about them other than there was a market. I was later told by the "serious" dealers that I had gotten less than 20% of retail. Yet; I was quite happy with my $800 profit.
Flip this around. Say the Seller bought his coins in a lot from an estate for a quick turn around; because he was told early dollars sell well.
And now after listing and relisting....and no one is buying....he probably thinks coins are worthless and he paid too much.