There is light wear on the some high points but no major flaws. Over all nice coin, AU-55 is what I would guess.
This photo-grading guide may help you a little... http://coinauctionshelp.com/How_To_Grade_Walking_Liberty_Halves.html
I will go with the AU grade but need a lot better images to grade it numerically. To show I will put up two diferent coins from this same date for you to compare it to. First is my PCGS AU58. The second is my PCGS MS65. Sorry guys just thought I would give a idea of how hard it is to grade coins online from just the images.
Taking it out of the protector will reduce the glare and make sure you have good lighting behind you.
I like the AU58 much more than the 65... to me, Walkers are one of the toughest coins to grade accurately, often because of the weak strikes. Thanks for posting these two examples, LindeDad!