Looks like the majority went with MS 64. The grade is MS 65. I'd call it a technical 64 (and maybe a 64+). The fields are quite clean and mark free. Both sides are also semi-pl. The reed marks are the major grade limiters. Interestingly enough, I've even seen some on MS 67 graded examples. Plus, they seem less distracting than when the entire cheek area is covered with smaller hits/marks (which I've found on toners graded up to the 65-66 range). In the end, I'd say this one is market graded, but not to the levels I've seen on some examples. I agree with @Lehigh96 that it could be market graded as a 66 (and I wouldn't even rule out a 67) if the toning was on the obverse.
A little late but... 63 - obverse 64+ - reverse - Absolutely Toned = market graded MS-65 A proud graduate of the Ed Wood school of "ATF" grading ©. (After the fact) Seriously, I'm surprised this got a gem grade with the obverse so scuffed, but I believe this coin was awarded at least one point for the toning. 64+ at best IMO.
I'm late but I was at 63 for the obverse 65 for the reverse. MS 65 seems reasonable for setting the value.
I guessed at a strong 63. The marks on the obverse are detrimental to the appearance and I would hesitate in purchasing it in a higher grade. It does look like a very nicely naturally toned example. IMO it falls way short of a 65 and sketchy at a 64, but what do I know, i'm a buyer not a seller and I'm looking at a ms66 that should be a ms67 or possibly higher in the same year and mm.
Here is a small sampling of 63 graded examples (all have reverse toning, but not as strong as the example in the original post). If one looks at these, you can see the marks on the cheek and the fields. It takes a lot more chatter to lower a Morgan (especially a toner) to a 63.
And here is a good example of a higher graded coin where the toning was on the obverse, so it helped obscure the hits (I'd be confident it would grade lower had the toning been on the reverse or if it was untoned). Photo without the arrows:
Is there something on the lens of the slab on the reverse? It almost looks like an error on the left side of the eagles left wing. Nice Morgan's!
Im not sure what that is (if it’s a strike through, a hit, or something on the holder). These other examples are not mine; they are from the same source, so it was a good way to compare (using the same photography style).