The coin doesn't look like other Morgans or silver coins because it has been heavily messed with. Like mentioned above it's been polished and polished hard. Would make for a nice pocket piece but do not send it to NGC take the money you were going to pay to grade it and buy another coin instead.
The blue color is not in the coin, it's on the surface and the color can be removed but it will damage the coin. Despite being polished leave it as is. It is an attractive coin.
Rubbing a cotton ball along the surface of most coins won't do much or any damage, however sliding whatever grit is on the surface around will hairline it. If you like the coin, it is a nice looking coin. I do think it has been polished.