All I can say is wow! I bought this for $17, and it's the most worn out Morgan or
Peace dollar I own, but this dollar wasn't stored away in somebody's drawer as a keepsake, it was money. How many times was this dollar in a coal miners pay envelope for a days labor? How many times was it slid across a feed store counter in exchange for a couple sacks of chicken feed. Probably saved in a farm wife's coffee tin on the mantle over the fireplace till she had enough for new shoes for all three of her children.
No, this isn't some MS-64 dollar encased in PCGS plastic, it's way more than that.
OK, now that I've waxed poetic, I'm thinking this would grade AG-03.
But what do you think?

