That coin looks like it rotated in-slab(?) Here a quick turorial on how to fix it> I dont personally use this method (but ive used it in the past) I use my Craftsmen vibrating tool with the interchangeable heads Others use an electric toothbrush.
Technically the closest to the label. I agree with you. I can’t see the rub with the coin in hand under a loupe but my gut tells me it’s there. 61 makes zero since in regard to technical grade. I feel like this coin has been market graded and is the only cause for the 61 in my opinion. The coin has prooflike fields in my opinion but I believe it to be AU. It would be interesting to send to NGC and see if it received a 58PL but it’s not worth the cost. Thanks for your opinions and guesses.
The yellow label ANACS coins can be a head scratcher at times. A lot of people like to think they are loose with their grading, but I've often found them to be on the conservative side with tendencies towards accurate. This one I would call very conservative.
I just got around to digging my 1904 O out of the safe and taking a few quick cell phone shots. Notice how mine has a grey look also. FWIW @kSigSteve, i think your coin is closer to 63 than a 61. There may be some rub on the iggle, but alot of '04 Os i have seen, display very little to no definition on the breast feathers.
I honestly don't see signs of wear on this coin. Thus, I don't think it deserves an AU. I also, honestly, don't see mirrors strong enough for any sort of PL consideration. What I do see are fields and devices plagued by an enormous amount of very small tick-marks. There aren't any huge marks in obvious places, but there are a vast array of small little marks all over the faces of the coin. This absolutely *kills* the grade. The strike is average, the luster is meh, and the eye appeal isn't really there. All this combines to a coin that, yeah, technically it is uncirculated.... but it has had a hard life. You could argue 62, you could argue 61..... But really, this coin is one of those who doesn't deserve a huge premium. 61 is a fair grade.
I'm a dunce over Morgan coins. You have one of the nicer Morgans I've seen. I only have five of my 30 Morgans graded..1880 S - NGC: MS 64, 1881 S - NGC: MS 63, 1882 CC - NGC: MS 65, 1883 CC - NGC: MS 65, and 1884 CC - NGC: MS 65. I have others that are nice, but I'm afraid to send them in to be graded. I applaud those that take a dive into the PCGS or NGC pool, trusting them to see your coins as you do. Best of luck to all.