EF details, cleaned. surfaces stripped. No idea on market value but I would wait for one with decent skin.
Definitely not worth AU-50+ money. Looks harshly cleaned and value wise probably not more than VF-30 money. If you have not already purchased it, don't as you will have a hard time getting what you paid for it if you decide to sell it. If you did buy it see if you can return it.
It's a fantastic date and has long been one of my personal favorites. However, and as is the case with many (although this one is rather extreme), it's a problem coin. There is definitely value there and it's worth saving, but it's no "AU50+" or even close to it. Personally, I would put the remaining details more in the Ch VF range, but again, because of the condition, isn't of great importance. It can be somewhat difficult to value these as much depends on the buyer; some would not touch or would pay next to nothing because of the condition, while others may be willing to because of an interest in the history, to simply save it, as a novelty, or in some cases reenactors will buy such coins, even if in poor shape to use as a prop or lend an authentic air to what they do. The point I am trying to make is that this can be a fine example of one man's junk being another's treasure. Either way though, no one is going to pay you a great deal for it, so there is no reason to consider submitting it.
I would advise against submitting it for grading simply because it would not grade cleanly. You'd just wind up with a details slab. Too bad about such a harsh cleaning. Good date, though.
I say XF (EF) based on the wear. Still a great year as the others said and you should feel proud to own it.
