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$ 2 1/2 Indian 1911D

I had an opportunity to buy one of these recently for what seemed to be a price too good to be true, the seller told me it was because it was a "weak D" that made it worth less. It wasn't graded but seemed to be about AU. I see in the Greysheet that it sells for approx. $4,000, he wanted to sell it to me for $800. Is that reasonable or just too good to be true? Sorry, no pics of the coin to show you, was a local dealer. But since I'm just getting started out, I don't know the dealer very well yet.

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