If it does not have the word copy I would call it a fake (counterfeit). If it contains the word "copy" I would just call it a copy. If it has the word copy and someone is selling it for $500, that's just just a rip-off.
It may have a silver appearance but it definitely is not plated in silver. I do not remember where I bought mine, but I remember it was only $5.
Check out "Seller's other items" A whole bunch of fakes. Yeah, he's honest in his description, BUT will the buyers be? Not all of his items are marked "COPY".
The thing about that listing is that replica coins are specifically not allowed on ebay, COPY or not, "novelty" or not. Report it and see what happens though. Nothing.
Your milage may vary. It's also a great place to get deals you'll find no place else other than flea markets. Caveat emptor rules the day. Win some, lose some.
At this point, I've been repeatedly reassured by "agents" that they're perfectly fine. I also note that the verbiage as you're selecting "reason for reporting" now says unauthorized replicas. I have no idea what they consider an "authorized" replica. Maybe they're trying to backdoor HPA-compliant imitations back into good graces, and doing their usual spectacularly poor job of communicating their actual policy.
Yes, I saw that "unauthorized" stuff in their policy now (https://www.ebay.com/help/policies/prohibited-restricted-items/counterfeit-item-policy?id=4276). Under "Unauthorized replicas" it says "Unauthorized replica coins or stamps." Did the US Mint ever authorize a replica coin? There was some stuff struck again later for collectors by the mint, but those are restrikes, not replicas. Then ebay is more specific in their FAQ section. Replica coins aren't allowed, period. There is no hedging there. But most of this stuff is flat-out counterfeit, which is pretty explicitly prohibited.
There's lots of issues not just from the buyers what do you do when a company like moonlight minting are putting all kinds of replicas out http://www.moonlightmint.com/
As in the statutes of law, I think it concerns the intent of the listing. The Moonlight Mint does not seek to deceive. Whereas, with China and other nefarious yahoos it is their prime goal. Dubious platforms like FleaBay provide the perfect forum for deception. No information on these dubious sites should be considered trustworthy, IMO.