(It was probably stolen as part of a larger shipment.) What made it seem legit was that I paid $200, instead of, say, $10.
She explained that I had a forged copy, despite the legitimate holographic sticker and working code. I noticed that the price list we had - as an A-level Select licensee - showed full Office '95 for $400. She dispelled a popular notion that we could install the office license at home. My company bought a Select license agreement.
Let me put it this way: I was trying to buy a legit Office '95 back in the day.