PL for me - most every time. Too much toning on a Morgan looks like a circus. I will admit that some of the gently toned coins do have beauty. ... IMHO
I myself lean more towards PL, as with toning you don't quite know what it will look like years from now (since toning is a continuous chemical process). While a proof-like field most likely will stay PL.
I would go proof-like. Proof-like fields on 100+ year old coins are an amazing testament to the survival of a coin and to the care taken in the minting process
Also with toned coins you never know if it is natural or artificial toning. If I collected toned coins I would only want NT coins and I can not tell the difference. John1
The appeal of a toned coin is extremely variable. I would choose a gorgeously toned coin over a PL coin, but if it's just an average nice toner, the PL Morgan wins.
Yeah, toned is a wide open specification and PL is defined. It would completely depend on the "toning" for me to choose this over a true PL graded Morgan.
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