Here's one to try and guess

It is cresant shape going into the coin?

 

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Picture two morgans, one on top of the other, but the top one offcenter of the bottom one 15%. The exposed portion of the bottom coin would be the crescent toning.

 

Two points.

First, that's not a bag-toned Morgan.

Second, I'll wager the "damage" was a fresh, bright scratch -- quite different in both genesis and appearance than the coin in question.

Frankly, and going only from the photo, bagging that coin was rather harsh, IMO.

 

Because there are hundreds if not thousands of GSA toned Morgans that look just like it, with no question as to their provenance.

However, what you describe is certainly possible, but I would suggest the chances are very remote -- as I've never, not once, seen a non-bag toned Morgan with the toning characteristics as shown in the photo (thus my "no brainer" comment above).

I disagree. I've seen much worse come in GSA holders that came from mint-bagged coins.

Maybe, maybe not. Neither you nor I know for sure. That said, I tend to agree with you, as the freshly-dipped coin will make the scratches appear "fresh" which often causes bodybags (just like Ruben's Peace dollar).

Yes, it's called market grading, and it is subjective in nature. What I'm trying to say is that PCGS (and NGC) are consistently going to slab that coin if it were cracked and resubmitted, despite the subjective nature of the evaluation.