Why sanded off? Is there something on the piece that has telltale signs of sanding? Like I said, I have seen pocket pieces like this that, (I was told), was an average morgan when the man started carrying in his pocket 20 years ago. However, 20 years of wear, rubbing against other change, etc worn it down to a slick just like the OP's pic. Just wondering if I missed something that would clue me in that the piece had been sanded.
Based on what my grandfather had that him and his father both kept as a pocket piece since the early 1900's I'll say a well worn pocket piece myself and wouldn't pay $39 for it. Its amazing what soft cloth will do to a coin over a period of 100 years.