It appears to be toning nicely but I too believe it has been cleaned. In any event it is a nice-looking coin. You certainly have a lot of nice coins to share @furham, thanks.
Looks like it was dipped too long. But it is starting to come back very nicely. It’s really a lovely coin.
It is raw. You'll just have to take my word for the fact it has plenty of luster. As hard as I try my camera just won't pick it up.
Most of them had been dipped at one point but the way the TPGs "market grade" in most cases they don't give two hoots, they're considered "market acceptable."
Unless I'm mistaken, a coin that was dipped improperly, is considered cleaned, but if done correctly, it is conserved. Fine line and how the TPG handle it is the question.