I find myself trying to decipher the "formerly MS-65" statement as others have said. The coin is fantastic and I love the toning on the reverse - so I'll say it had a gold bean.
@wxcoin you were right...so your respect is back! It was a 65 with green CAC. Based on the other 65s (and 66s) I've seen lately, I thought this one was better. To me it looked closer to a 66+ (shot 67). It graded 66 star. Not as high as I thought, but still a decent upgrade. It has not been back to CAC (so I don't know what would happen in the 66 holder).
Rd. 1: 1921 MS 65 Green CAC Morgan--> Yes: 4 vs No: 3 Rd. 2: 1835 AU 50 Green CAC 50c--> Yes: 2 vs No: 8 Rd. 3: 1939-S Oregon MS 65 Gold CAC 50c--> Yes: 10 (8 Green and 2 Gold) vs No: 0 Rd. 4: 1838 AU 58 Green CAC (Gold $5)--> Yes: 1 vs No: 5 Rd. 5: 1908 MS 63 Green CAC (Gold $20)—> Yes: 5 vs No: 1 Rd. 6: 1885-CC MS 63 PL Green CAC Morgan--> Yes: 8 vs No: 1 Rd. 7: 1946-S MS 66 Green CAC Walker 50c--> Yes: 7 (6 Green and 1 Gold) vs No: 1 Rd. 8: 1885-S MS 62 NOT CAC Morgan--> Yes: 5 (4 Green and 1 Gold) vs No: 1 Rd. 9: 1830 EF 45 UNKNOWN CAC 50c--> Yes: 10 vs No: 1 Rd. 10*: 1899 MS 65 BN UNKNOWN CAC 1c--> Yes: 4 vs No: 5 Rd. 11: 1942 MS 65 Gold CAC 50c--> Yes: 4 (4 Green and 0 Gold) vs No: 2 Rd. 12: 1940-D MS 67 Star UNKNOWN CAC 10c--> Yes: 3 vs No: 4 Rd. 13*: 1884-O MS 61 Gold CAC $1--> Yes: 9 (4 Green and 5 Gold) vs No: 0 Rd. 14: 1827 AU 55 CAC 10c--> Yes: 1 vs No: 7 Rd. 15: 1851 MS 66 CAC 1c--> Yes: 5 vs No: 4 Rd. 16: 1919-S MS 65 Green CAC 10c--> Yes: 12 (11 Green and 1 Gold) vs No: 0 Rd. 17: 1922 MS 65 NOT CAC Peace $1--> Yes: 10 vs No: 1 Rd. 18: 1851 Au 58+ CAC 1/2C--> Yes: 0 vs No: 6 Rd. 19: 1839-O AU 53 NO CAC 50c--> Yes: 6 (5 Green and 1 Gold) vs No: 3 Rd. 20: 1920 MS 65 NO CAC 25c--> Yes: 4 vs No: 6 Rd. 21: 1862 PF 64 CAC H10c--> Yes: 5 vs No: 1 Rd. 22: 1869 PF 63 Gold CAC 10c--> Yes: 7 (5 Green and 2 Gold) vs No: 0 Rd. 23: 1834 XF 45 CAC $5--> Yes: 2 vs No: 5 Rd. 24: 1835 XF 40 CAC 25c--> Yes: 8 (7 Green and 1 Gold) vs No: 2 Rd. 25: 1876 MS 62 Not CAC 50c--> Yes: 7 (6 Green and 1 Gold) vs No: 1 Rd. 26: 1853 MS 64 Not CAC 10c--> Yes: 7 vs No: 0 Rd. 27: 1913 MS 62 CAC 2.5 Gold--> Yes: 1 vs No: 5 Rd. 28: 1835 AU 58 CAC 10c--> Yes: 3 vs No: 7 Rd. 29: 1908-S MS 64 CAC 1c--> Yes: 9 vs No: 2 Rd. 30: 1913-D MS 66+ CAC 5c--> Yes: 10 vs No: 0 Rd. 31: 1829 AU 55 NOT CAC 5c--> Yes: 11 vs No: 1 Rd. 32: 1851 MS 61 CAC 2.5 Gold--> Yes: 4 (3 Green and 1 Gold) vs No: 2 Rd. 33: 1936-D MS 66 GOLD CAC 5c--> Yes: 3 (3 Green) vs No: 2 Rd. 34: 1941-S AU 55 NOT CAC 10c--> Yes: 11 (2 Green and 9 Gold) vs No: 0 Rd. 35: 1924 MS 66 CAC 25c--> Yes: 3 vs No: 4 Rd. 36: 1936-D MS 67 Texas UNKNOWN CAC 50c--> Yes: 8 vs No: 1 Rd. 37: 1928 MS 66 Oregon UNKNOWN CAC 50c--> Yes: 9 vs No: 0 Rd. 38: 1893 MS 64 Isabella CAC 25c--> Yes: 2 vs No: 9 Rd. 39: 1820 AU 58 CAC 10c--> Yes: 3 vs No: 7 Rd. 40: 1881-S MS 65 CAC $1--> Yes: 7 (3 Green and 4 Gold) vs No: 0 Green CAC on coin and deserves it: 12 Green CAC on coin and doesn't deserve it: 10 Gold CAC on coin and deserves it: 1 Gold CAC on coin but should only be Green: 4 Gold CAC on coin but should not sticker: Failed to sticker but deserves a sticker: 7 Failed to sticker and should not sticker: 1 Unknown sticker status and deserves a sticker:3 Unknown sticker status and does not deserve a sticker:2 Note: if we don’t know the status of a coin before the reveal and more people say green CAC for a gold CAC coin, then it will go in the area of “Gold CAC on coin but should only be Green” ....see round 3 as the example case * Rd. 10 was 4-4...I interpreted that CircCam would consider it a no (based on a similar example), which swayed the overall vote to a lean towards no. Rd. 13 was tied between green and gold at 4-4...I interpreted that geekpryde would consider it a gold
Also, if the coin had a Gold CAC at the 65 grade, I would have left it alone. A gold sticker on toned Morgans is fairly uncommon, is pretty interesting (to me), and would draw a larger premium than a 66 (it would probably take a 67 with a green sticker to equal a 65 gold sticker-at least that would be my guess).
I have two questions about the reverse: what is the small dot at 11:00 above the T in STATES, and it looks like there is a cloudy area or smudge at the bottom to the left of HALF, above the F in HALF, to the right of the R in DOLLAR, and at 2:00 to 4:00?
I share @GoldBug999's concerns. There are too many questions about this coin that cannot be answered by the photographs. While a nice looking coin, it is one of the typical WL proof issues of the 40s where the dies were lapped. This specimen came from dies that were lapped and it shows on the obverse on Liberty's outstretched hand, in the margins of the devices, and on the reverse in the initials. This coin is not the product of what I call "terminal lapping" so it looks pretty good. Don't know if that plays into the CAC evaluation or not. The photographs seem to show evidence of a dipping but I am very uncertain of that without seeing the coin in hand. To its credit, I see no hairlines which it cannot have at PR65 or 66. For comparison, I possess 1936 and 1937 WL halves in PCGS PR64 and PR63 respectively that are both green-beaned and both of which are hair-lined and bright, more than suggestive of prior cleaning. So, I would guess that the subject coin got the bean.