I assume you mean an old PCGS rattler - looks AU to me. I can't get a good feel for any luster remaining.
IMO due to the lack of mint luster (looks cleaned at one time ),the rounded look of the stars,the wear above the ear in the hairline and in the eagles breast feathers on the reverse I think its a AU coin.
EF 45. The hair above the ears is pretty worn, the breast feathers are almost gone. And there are quite a few contact marks, and possiably cleaned. It's eaither EF-45 or EF-45 cleaned.
I have trouble grading XF-AU Morgans. I'll say that's an XF45 or thereabouts... doesn't look clean enough to get an AU from me... maybe an AU50 at best.
Because 1893-S is one of, and is, the rarest Morgan you can buy (besides some of the earlier patterns).
I was being sarcastic...their are alot of folks on here that will yell fake just for fun because they don't know...
Oddly enough I am getting the same vibe. Nothing to justify it other than a feeling. Since the coin was graded by PCGS, and you say you feel it is undergraded, I'm going to say the called it EF40.
It has good detail, but lack of luster and almost a cast look from what I saw in the pictures, but obviously the others do not think so.
It does kinda have the "I'll stick to a magnet" look. I don't see anything else that makes it a fake though.
With what appears to be some remaining luster near the edges, especially on the reverse, I'd have put it at 50... but pictures can deceive. More definition in the breast feathers is needed for higher than 50