1895 O I'm New To This And All The Counterfeits Scare Me.

This one looks genuine with honest wear.

This one has quit a bit of wear so will weigh less. I think you got a decent deal on it, looks like a VG-10 and Coin World Trends lists a VG at $350 (retail).

Using PCGS's online photograde, I would say this is close to a fine-12 with wear grade. Not sure about the price. Even using the PCGS price guide, I can't make an accurate guess.

You need to know if it's polished first. If I remember correctly, and someone correct me if I am wrong, that PCGS doesn't grade polished coins.

How do I know if its polished?

It looks like there is some green gunk on it and my wife said a bunch of black and greenish stuff came off it when she wiped it with a piece of toilet paper.

I wouldn't clean your coin in anyway unless one of the Pillars of the Community members on here suggests it. You don't want to rub anything against the silver dollar, which might result in decereasing the value. Best thing you can do is to wait and see what others suggest.

Not so good - that action right there could have left the parallel scratch marks which we see and call the coin "cleaned." She wasn't so much "removing" things as she was first "moving" those things across the surface of the coin before removing them.

I'm going to recommend this one for acetone, even though it goes against my general rule - I'll explain both.

First, I generally do not recommend the use of acetone on a coin whose surface already shows this much color, regardless of what that color might be. The problem is if the acetone works well. The color is not even over the surface of the coin, and acetone is unlikely to remove it all because chances are it isn't all stuff that acetone is effective on. What will remain is a coin with a blotchy appearance that will be an immediate signal to someone who knows what to look for - it's been cleaned.

But. The green I see, especially on the right reverse rim, looks to be the byproduct of attack by PVC byproducts. This is an active thing, an ongoing infection which will cause ruinous damage to the coin if allowed to continue. PVC removal trumps everything else.

Do a Search of the Main Coin Forum for the keyword "acetone." A number of good threads regarding its' safe usage will appear, and you need to look at them. You need to be particularly cognizant of the need for proper ventilation when using acetone because that's going to be tough where you are.

You got a decent price for this coin. I see no reason to doubt its' authenticity. Even if it ends up with the label "cleaned," you won't lose your shirt on the resale. It's a low-mintage, semi-key Morgan and it needs to be preserved for the future.

In this specific case, that means acetone. Soon. A few days for research is OK; a few months isn't.

Edited addition for DVCollector: I'm of the mind that PVC contamination - being "slimy" by nature when this extensive - will come off more easily with a wipe than would verdigris. So that's the conclusion I came to when "green" was mentioned. Frankly, with an 1895-O we can't afford to take the chance.