The seller had a Buy It Now price on it, maybe it sold at the Buy price. I would rather have had the seller take it down than have someone buy it expecting an authentic Morgan dollar.
I work with a number of High-School Coin Clubs. Having a really nice FAKE or two are nice tools to share with those students in the clubs. Shoot ... $10 is what it is ... not all that much. I just consider it a "interesting collectable item". As for the silver content and "melt value" ... I doubt there is any silver in it at all. I don't buy any bullion items so "melt value" is a moot point for me.