1881-S dollars are pretty common in high grades. I would call yours AU-55 and value it a few dollars over melt whatever that is these days.
Yes, it does look like it has been improperly cleaned which would probably relegate it to melt value. The 81-S is known for having one of the best strikes of the entire series, so anything less than MS63 isn't worth a whole lot. Chris
Thank you all. Unfortunately most of the silver I have has been cleaned. They were being saved for the silver, and were cleaned before I aquired them.
As others have said, it's cleaned and a common date, so its value is primarily that of its silver content. That said, Morgan dollars typically do fetch a decent premium over melt no matter their condition. I would say selling this private party, you should expect to get at least $20 for it.
