Yeah they did. But if you look at the date on this - 1989, and the fact that it says that they do their grading based on the current ANA standards, meaning those in place in 1989 - in 1989 the ANA standards dictated that a coin be graded based on its worst side. The ANA standards at that time were published in 1987.
As promised. It really is in black/white on photo paper. Coin was in a plastic sleeve paper clipped .
Honestly, in 1988 and 1989 is when the big investment craze with rare coins was crashing to the ground. I would consider that without a name for the grading company that this was probably a home shopping network or television coin sale pitch from back in the day promising investment grade coins.
It's in the book as FCS 2. This is the third and last variety from Federated Certification Service. FCS started in late 1985 and ran through sometime after May of 1989. The first two varieties have the company name on them. Sometime between 1986 and 1988 the text on the holder changed to include the double your money back guarantee on authenticity (and at the same time removed their name from the holder.) I also suspect that during this change the firm was acquired by a European firm because the certification date changes format from MM/DD/YY to DD/MM/YY. This isn't obvious on the OP slab because you can't obviously tell this was slabbed May 6th 1989 and not June 5th. (The European dating style is clear on other examples I have seen and in my reference collection.)
We have some of the old ANACS photo-graded Morgans at the shop, but have never seen the later variety with the yellow paper and embossed seal. Interesting.
At the top of the front is has a copyright date of 1987 and states "Not associated with ANACS or any other certification service. On the back it has at the bottom American Numismatic Institute Certification Service. Back then ANACS had a good reputation and this company fashioned their name to sound similar to ANACS for obvious reasons. Very nice bit of numismatic memorabilia. You are going to leave just the way it is? It's too cool!
I got one like that off of ebay last year, an '87 ASE, nicely toned. Although I didn't get any paperwork with it.
I find it interesting that when they started offering a 2x money back guarantee...they took their name off the holder. Hard to get your money back when you can't tell who promised it.