Hey guys thanks for all of the support I really appreciate it. Normally I try to be careful as to who I buy from just to avoid these kinds of situations. Right now the coin has been placed in a new coin holder and in a box with my other coins. Tomorrow is decision day.
The coin really is nice and I'm sorry not to be able to show you pics right now as the combination of a small 'helpful' child, a shiny object and breakable camera equipment together in a tight space don't mix too well. Maybe I can get a reasonable setup going soon when she is off to school.
The best I can do regarding a photo is to tell you to go to Heritage Auctions >
Franklin half dollars > Buy It Now > (Look at the) 1954-s (the ones for $240-255). The coin I bought matches all of those coins for color, luster (soft & silvery), and condition although I still feel it would not make FBL which is a sticking point with many who collect Franklins.
As for the length of the auction it was 5 days, and I was the only bidder (sniping too), and the starting price was $24.99. I just looked at the auction revisions and it does look like he listed a 1954-D first, then changed the listing to a 1954-S and changed the photos thereafter to match. He definitely states that the coin is a "1954-S", is a "Super Gem", "Possibly a MS-64 or MS-65" and that his starting bids are "extremely low for this grade". His photo is accurate (for color & luster) but sucks for detail and clarity which is why I was only willing to snipe for the minimum. I mean with a better photo he might have had more bites.
Rigoletto- You are right I should probably offer to sell it to him for the same price as the ones listed for sale at Heritage.
Well thanks again everyone for your support & advice.