Morgan 1888-O Hot Lips

I think it's been polished - the obverse looks way too "bright" - but that is possibly a function of the lighting. Hot Lips Morgans are not as rare as the magnitude of the error might make one think. ANACS has graded over 1000, and Ash Harrison has a complete Grading Set of them from P01 through MS61(!).

All the same, I'd be tempted to take a chance at the asking price. If the coin were to slab, there is actually a market for it in a grade that low. If not, the monetary loss is no worse than "minor."

Not only polished but way overpriced and I can't tell if it is a VAM 4. I'd put it in FR-2 condition and not worth the effort. You should be able to find a nice G-4 for about a $100. I'd pass on this one. But again, as one Forum member so aptly says, "that's just my opinion and worth only what you paid".