1894-P Morgan Dollar -- Real Or Fake?

Below is a link to his current listings. Even though they are not key-date they appear to be fakes. I am not sure why someone would fake non-key dates as there is little value, though they all look the same, the wear, etc. Decide for yourself and you can look through his completed listings as well. Everyone keeps leaving positive feedback? The sellers user name on ebay is ahre_hunt

http://www.ebay.com/sch/ahre_hunt/m....m2748.l2654

Everything he is selling and has sold is fake.

You answered your own question. He gets a 1000% mark up and since the coins aren't keys they aren't examined closely and stick with the new buyers. He keeps the money. He can do this for a long time before he is found out. With keys or semi-keys he makes more per sale but is found out almost immediately and can only sell a few. It is the classic common battle between two business models. Make a killing on every unit but only sell a few, or make a good profit per item and sell thousands.

My date location vis-a-vis the dentils strongly suggests to me that it's an 1894-S with the "S" having been effaced. But this could also easily be simply a modern fake, which would be the path of least resistance nowadays.