Coin arrived Friday just before we left for a long weekend. In hand I agree that it's uncirculated. Luster is there but overall it looks "dirty" or "dull", so @panzaldi is probably correct that it was dinged for that. I'm slowly building a design transition variety set for
Barber dimes. Most people don't know that the reverse design changed twice - once in 1900 and again in 1901. 1900-S has both the 1892-1899 (Reverse 1) and 1900 (Reverse 2) hub types. So above is the common 1900 type, which completes my types for 1900-S. I already had two examples of the scarcer Reverse 1, below. Note the changes to the left leaf vein (really, all the leaf veins were re-engraved) and middle row of corn kernels.
Raw Reverse 1 (discovery coin):

AU53 Reverse 1 example:

MS61 Reverse 2 purchase for comparison:
