.....also, I just looked at a bunch of silver dollars and found this toned one....when it hits the light just right you can see lots of red and a little blue...would this be considered desirable?....sorry for the bad pic.
Yes, there is a reason, but you'll have to find the person that put it there in order to know that reason.
Treashunt is correct, it's a countermark. Who knows when or why and by whom? Doesn't matter, it's still a countermark.
Yes, it is called counterstamping, or in numismatic terms, mutilation of a coin. Glad it wasn't an 1893s or an 1889cc.
With regard to your toning question, I don't think this will carry anything other than a possible small premium. It's nice, but won't excite the toning community.
I can speak for the toning community, as I have collected toned Morgans for years. Those as pictured would not be considered attractive. Morgan toner collectors want coins with either pastel, vivid (monster rainbow), or other colorful patterns that are market acceptable NT. Those have that "battleship" color that some Morgans get, and it is not considered to be a premium, as it isn't very attractive. Let one's eye for color be the guide in what toned coins look beautiful, and what ones do not look attractive. Look at my avatar to see a color pattern that many find attractive--I was lucky on that coin, as it didn't cost a lot for what is a really pretty coin in hand.
Agreed. Plus, that center morgan is circulated which indicates an old cleaning and retone. The film that produces NT requires pure surfaces to develop in most cases
