Well, GI2GA, it IS a Morgan, but its main purpose would be to fill a hole in somebody's collection. If submitted to a top third party grading service, it would come back in a body bag as "damaged". ANACS might give it a Net Grade of FR-2, but that wouldn't enhance its value at all. It's a relatively common Morgan and in it's condition, it's not worth much above melt.
But always remember, one person's trash is another person's treasure.It could be given to some budding young numismatist as a present and s/he might treasure it for life.
Fred