Does anyone know how to remove this substance from a coin without damaging the coin?

Yes, that doesn't look like toning, it looks like someone poked it with a Sharpie. Go to Ace Hardware and see if they got Sharpie remover. If they don't, there's probably a good reason, it doesn't exist. But if they do, you're in business.

 

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Whatever you do to try and remove those black marks be very careful that it will not remove the coins finish.

 

NO Palmolive dish detergent. It may loosen dirt, but do you know what chemicals are in it? Do you know if those chemicals will react with the toning and/or metal on the coins surface? Does it leave any residue on the coin? Sorry, recommending dishwashing detergent to clean coins is irresponsible IMO

Acetone and Xylene are good solvents that won't react with the metal surfaces or toning. Xylene will work on many organics that acetone won't touch . Dips such as EZest may work but the OP has expressed his concerns

I think the black marks are something that's reacted with the surface, so solvents aren't going to work, but that's speculation on my part.

 

I would take Insiders advice and leave it at that. IMO

 

Acetone works on magic markers if the surface is hard. It is used by me when I grab a Magic Marker instead of a Dri-Erase marker. You would be surprised how often teachers do it.

 

You sun glasses are also blinding me... I can see you guys have been busy in the moderators forum of late..

 

That coin has been cleaned in the past IMO.

 

My wife was a High School English Teacher for 34 years. One of the things that she was required to do, is to sell tickets a football and Basketball games. She has been retired for about 12 years now. One of the things we did when at the games, was to look at all (or most) for the coins that came in. In all those years, we didn't see one coin that was worth keeping. We did see coins with lipstick, fingernail polish, magic markers, and many other stupid stuff. At a basketball game, a student paid with a $2 bill. We took it and gave him his change. My wife contacted the student's mother and found out the student wanted some money to go to the game, so he got the $2 bill out of her purse to pay his way in. After the game, we took the $2 bill to his mother and let her deal with her son.
(Oops! I'm off topic?)

 

Nothing is going to be "lost" with acetone and/or xylene. The VAM is not going to disappear, and I think it may help highlight the VAM and the extent of the VAM (which I suspect is not limited to the area you describe). The value of the coin and/or the VAM is not going to change because of doing so.

Terminal toning or tar or magic marker or mouse dropping stains or what else it may or may not be, can only be improved at this point by trying. Worrying about the patina or any underlying hits that may be exposed is to little to late, because the amount of hits and circulation marks are very visible just from the photos posted, and I do not know anything about or any talent in deciphering or grading a piece from a photo.

You will be fine.

Then again, what do I know? I am told not much, so........

 

poke at it with a toothpick and see if you can pry it loose.

 

The same "substance" appears to be on the rim of the Obverse, and a couple of Dentils on the Reverse, and a shadowing area on the Reverse that could have had it but not as obvious now and and maybe was removed.

 

Nice coin, good eye appeal, leave it alone. But again, it's your choice, good luck.

 

Reading the ancients forum I learned about horn silver. Is that even a possibility on modern (i.e. not ancient) coins such as Morgans?

 

I wouldn't touch it. If you soak it in acetone and it comes off great but, I wouldn't do anymore than that. It's a decent coin don't wreck it.

 

If acetone or Xylol don't work you could try isopropanol, or methylethylketone (MEK) both a safe to use on coins. Each of these works as a solvent on different materials, some work better on some substances than others so if something doesn't dissolve in one it may dissolve in one of the others.

 

what to I know, other than it is very very scary.

 

Those problem spots look like old, fossilized paint. REALLY OLD paint is tougher than you might guess, esdpecially if you're attempting to remove it "gently", without any wiping. They also might be tarnish, which is oxidation of either the silver OR the copper. The smudge on the reverse looks like a toning issue, but you're not worried about that. Whatever terrifying stuff you intend to use on this coin, make sure you're well-ventilated.