Those scratches on the reverse are killers, but being a key coin, I believe I'd buy it and have authenticated, even if it is "details." Like you said, ANACS would be the way I'd go.
Read "Morgan 1895S Real or Fake" Thread...including Insider 2 (Et Al-a couple from here) Post on CU Website (PCGS), 24 April 2018. Good Stuff.
Here is the PCGS Price guide on the 1895s. As a straight graded XF 40, it would be worth $1200. That coin is cleaned, and probably AU details. So, it is probably worth $750-800 in an ANACS slab, with VAM attribution. @Randy Abercrombie , that is just the way the hobby is nowadays. Collectors want certified, authenticated coins. The raw coin market has shrunk considerably for certain coins.
I know... And not being a Morgan guy, I was figuring that coin more in the $1500.00 range.... It just hurts my heart that we are in a place that we cannot trust that these coins are genuine these days. But it is absolutely rampant throughout our hobby.
Cleaned with a Brillo pad or worse. Can't imagine why anyone would want it. An honest F12 would be more attractive to me and should cost less than what you might have to pay for this horror.
Valuable coin or not, personally I would never own this coin - harshly cleaned and unattractive. But that's just my opinion. I only collect Morgan's for historical purposes so I have one mint state coin from each mint. No rhyme or reason for year or rarity.
Why would one want it? Would you rather spend $170,000 for a clean, low MS grade 1985s, which is a difficult date? All Morgans from 1893-1895 are among the hardest coins to collect.
I would pay double that amount for that date!! I forgot to take my Metamucil. Don't throw anything at me. I can't duck down anymore.
WOW!! You really need to have it graded. I have some Morgans that skirt before and after 1895 and especially not a S. Protect that coin. Thanks for showing it to us.