PCGS - Not Genuine (?!)

If PCGS returned the coins as "Not Genuine", then they're counterfeit. Since you know weight was a concern, weigh the coins yourself and see how far off they really are. I'd guess they must be under weight by at least 10% but verify that before proceeding.

If you could a few pics here with the weight, we could give you a layman's opinion.

Sorry for your misfortune but please realize that gold dollars and early bust dollars are often counterfeited and should be purchased from a reliable source and/or certified by a major TPG.

No.

Having said that, the two categories you mention are among the most-counterfeited, and I simply would not buy either from a non-US source, excepting a very trustworthy dealer. Bust Dollars, especially, are counterfeited to the extent that it's almost certain there are more counterfeits available than real examples. Do you have the ability to weigh them with a precision of 0.1gm? If not, acceptable electronic scales are available on ebay (US; I don't know about Europe) for less than US$25.

Another possible explanation for the low weight is the possibility that the rims were shaved by silver profiteers. Some unscrupulous people would actually shave small amounts of silver off the coin and if you do that to enough coins, you could come up with quite a pile of silver shavings. Obviously, this was done when a dollar was a significant amount of money. This hypothesis would probably not work for a coin that was 15-20% light but if correct, you would still have a damaged coin When it gets back from PCGS, get an accurate weight and inspect the rims to see if the edge lettering is still intact.

Interesting commit regarding the shaved silver rims. I've heard this was more common with the gold coins or even better some folks would inject a device and extract the center and replace it with something like copper.
Anyhow, for the record the source of this coin WAS actually from the USA.

Despite that the ebay dispute period has long past... As a US citizen myself (living abroad) I understand that I have rights to file civil suit in my home state should I decide to pursue. It is definitely illegal to sell a counterfeit under the pretense that it is authentic!

there is a limit even with paypal on how long you can file a dispute. I would probably contact the seller to see what they have to say about it but most sellers would be weary of taking the coin back because it could have easily been switched unless they have some sort of documentation to prove its the same coin (like photos showing the exact same wear pattern and marks). That is why most sellers say the only way they take returns is if the coin is sent back in the same container (flip,slab,whatever) it was sent in, that way they know it hasn't been switched and if its not in the same thing they don't take it back unless there is no question its the same coin. If you feel its worth it to sue the seller (I don't know how much you paid) then yes that is an option because it is illegal to sell a counterfeit coin as legit but I am not sure if you would have to prove that the seller knew it was counterfeit or not but if you paid allot for it and you feel it would be worth it to pay more to fight it in court to recoup some of the money then as I said that could be an option

You should report the seller to the Secret Service or FBI. Counterfeits are illegal!

If you don't mind my asking, how much did you pay for the coin off of ebay?

Thanks! -- Around $600 to answer question above..