I purchased this Morgan at an auction yesterday. 1904 Morgans are hard for me to grade because the reverses are not as sharp as earlier Morgans. What grade would you give it?
While this could be a weak strike, I'm leaning toward wear because of the color changes. But, I'd have to see this in hand to be sure. I'd go for AU58, possible slider to 62-63.
I don't see much wear on the front, actually the front looks really nice. On the back, the eagle's breast appears to have a darker color due to the luster being worn off. So, I'm going to say it is a weak strike due to the detail on the obverse without color change (notice the loss of detail in the hair above the ear) but on that it has also been slightly circulated due to the color change on the eagle on the reverse. So, I'm going to say AU58.
With that nasty scratch on the cheek it is damaged and technically ungradeable. Beyond that I would say it has AU details as there does appear to be some slight wear on the high points.
I agree with GDJMSP and Ruben, there is some wear showing on the hair and other high spots. AU-55. A very nice coin though Ben
In hand, the color is the same on both the obverse and the reverse. For reference, the coin is currently in a white cardboard 2x2. I was attempting to show some more of the detail (especially the feathers on the eagle's breast) but I still need to work on my lighting and color balance techniques. Compared side by side to a slabbed MS63 1904 O Morgan that I also own, the two coins are very similar. Excluding the scratch on the cheek and a small scuff on the upper left part of the eagle's breast (both pimary focal areas), this coin has less contact marks in the secondary focal areas that the slabbed coin. As for the reason for the inquiry, the auction house listed this coin as a 1904 P (no mint designation) and I did not inspect it carefully prior to the auction to notice that it was actually a 1904 O. The bid price was not excessive but the auctioneer indicated that he may be willing to adjust the bid based on a fair market value for this coin.