Hello - When I bought this Morgan it was very bright white. 9 months later, it has developed the spots you see in the picture. Are the spots due to some cleaning agent used? Would you say this coin falls into the AU range? How would the spots affect the grade? To the naked eye the coin looks really good but in the closeup pic it looks like there is a fair amount of wear. If you click on the pic you can see a larger pic with more detail.
The long and the short of it: Yup, it is cleaned, and poorly. Whoever did it did not rinse the dip off completely, and it stuck.
Yup, can't tell you how many times I've seen that. The coin was dipped, over-dipped even, in an effort to remove unsightly toning or a contaminant that was causing minor corrosion. And as often happens, the coin looks just fine at first, but after a few months you get what you see here - it comes back. As for grade, the coin would be high XF based on detail. But with the damage it would net VF at best and maybe F.