Based on the effort you put in to get this pin to him that early in the morning, keep the deposit. If you had done nothing and he was coming to your place to view the pin before finishing the deal, then I could see refunding some or all of the deposit.
I know that when I put down a deposit on a pin, there is a good chance I am not getting it back if I change my mind. And I wouldn't even ask for it back. That's why you do your research before sending over any money.

Again, what's the point of a deposit if it is refundable?