Tyler, before you spend any money on a coin, get to know the coin. The most valuable expression in coin collecting is, "Before you buy the coin, buy the book." Also, when it comes to Third Party Grading companies stick to PCGS, NGC and ANA. Do NOT trust anything graded by SGS. 99.99% of their coins are graded MS-70. I once saw a coin they graded MS-69 and it had a hole, a footprint and signs of an abrasive cleaning. This really isn't rocket science, but it does take time to learn to recognize what is a good value and what isn't. Find a local coin dealer you can talk to and who will show you coins. There's nothing more worthwhile than to spend the time to gain the knowledge and actually look at a wide variety of both high quality coins and clunkers so you know what is what.
Wow, I didn't see that as being holed. Looked like an abrasion but I also didn't read "metal missing from the reverse" by the seller either.
I would say its worth about $400. Issues are that its been cleaned It has a rim nick It wont grade higher than G if it grades Plus you have eitheir e ahole that was repaired or you had someone try to put a hole into the coin. Just being cleaned I say you overpaid. IMO