Can you be more specific about why they’d reject it? I know nothing about restoration. It’s not the rainbow that bothers me, but the dark spots on the obverse. Just doesn’t have nice eye appeal to me.
If you read about restoration on their website, they state what they will not dip/restore and why. One of these is toning. And PCGS also says that if they don't think a coin can be improved, it will be rejected. So basically I would bet big money that they would not consider dipping out that coin would improve it. Also, they do not dip just one side of a coin. It's the whole thing. I know this from experience. They overdipped and ruined one of mine once. Never used them since.
From the looks of it that coin has been dipped before. I would strongly recommend against doing it again.
It looks good to me, no PVC or environmental damage (toning not severe enough). I wouldn't mess with it. If you don't like it, sell it and put the money towards one you like.
Rick Stachowski, posted: "If that coin straight graded, I'll be a monkey's uncle ..." Do you like organic or regular bananas? I thought you were an expert on nickels and cents. Otherwise, I've confused you with another member of CT. Rick Stachowski, posted: "Altered surface ..." Please reveal what you are seeing. Rick Stachowski, posted: "That coin was so burnt from acid, even the rim has blackening ..." It is called oxidation. In this case, it's probably attractive to many members. @DUNK 2 I recommend you leave the coin as is. The toning can be easily removed at any time and then the coin will be as common as all the other "white" ones around.