@KauaiHawaiiGuy, Thank you for the additional photographs and weight.
What made me pause is that there is a poorly struck known counterfeit 1884 dollar
in medal alignment, significantly underweight, with the date die clashed between "E" and "D" of ONE D
OLLAR and a die scratch between the second "L" and the "A" of DOLLA
Your coin is within weight tolerance and better struck. I suspect it is in coin alignment.
Your coin, however, has the date die clashed between "E" and "D" of ONE D
OLLAR, an impossibility without nearly 180 degree misaligned dies. Here is your added photo, with the clashed "18" roughly marked. The die scratch from the "A" of DOLLAR to the leaf is visible, but weak.
As to whether the Chinese counterfeiters would counterfeit a common date circulated Morgan, yes. They counterfeit anything
circular and shiny. They have counterfeited common date Buffs, ASEs, Newfoundland 1940s pre-confederation ten cent pieces, and a VAM-correct EF-appearing 1899-O Morgan found in pawn shop junk boxes, each worth under $20 if genuine. They have counterfeited common date Morgans, within weight tolerance, but using Ag plated Sn-Zn cores, and occasionally using 90% silver, making their money by bulk sales on the markup over melt.
Bottom line: I'm not certain
that yours is a counterfeit, but I cannot explain the apparent die clash or the unusually weak strike for an 1884 Philadelphia Morgan.
Very interesting coin, indeed.