Opinions On Obverse,1887 Morgan Dollar

I'm seeing semi-new toning over an old cleaning. Maybe not TPG-approved, but the look is not objectionable and to me it's a worthy coin in my mind.

My first thought was lacquer.
19th century collectors used to do that to prevent toning.
A good way to tell would be an acetone bath.

Acetone will only remove organic matter. The end result can be a blotchy looking coin if the surfaces were not evenly covered and allowed to tone in areas.

If lacquer is involved - and it's an interesting possibility now that you mention it - acetone will remove the lacquer completely, leaving no trace that it was ever there. Except....

As Dave mentioned, if the lacquer has darkened over the years, creating the color we see here, the coin's surface under that color will have aged at a much lesser rate than the more exposed surfaces where there's no color or lacquer. Removing the lacquer then leaves brighter surfaces where it was, and an obviously-treated coin.

This one, I'd probably leave as-is.

In a leather pouch with suede inside