1887 Morgan Recovered From A Jewelry Bezel

My wife recently received an old cigar box from a family member. The box had once belonged to her grandfather. The box was full of old photos and a few keepsakes. There was an old Mason membership medal, a medal that was given to him for years of service to the railroad, and several well circulated common date Buffalo nickels and Indian cents. Nothing of great value, but it held a lot of sentimental value. In the bottom of the box there was also a Morgan dollar set in a keychain bezel. This item, unlike the other coins, was in a small ziplock bag. At first glance, I admired the toning, but didn't think much more about it. In my mind, the coin had been destroyed when someone turned it into jewelry. Later I began wondering if the coin could be safely removed. This weekend I took a closer look and realized the bezel had a tiny screw. When I loosened it, the bezel opened up slightly and the coin popped right out. It was only holding the coin by the edges, and not soldered as I had suspected. I immediately put it in an airtight and snapped a couple of pics.

Needless to say, I find the toning absolutely stunning, and I can tell it's in great condition. However, I'm pretty new to collecting and I'd like some options on grade. My guess is somewhere around XF-40.