The coin was blast white when it entered the holder, now it has PCI toning. Some swifty marketers would call this beautiful monster toning, I would call it ugly. Grade wise, I am at 61 or 62. Can't pass up a good deal even if the coin is ugly!
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Since there is no toning on the reverse I suspect it was like this when it went into the slab. I'd guess the PCI graders bumped up the numerical grade from 61/62 to 64 due to the toning. Others may have different opinions.
From what I have seen the toning on the PCI holders do tone on both sides. The toning on the OP example does appear to be market acceptable regardless of holder toning or pre-holder toning. See PCI toning example below:
Love those old PCI holders. Definitely has market acceptable toning (from the holder) on both sides along with spot-on grading at MS64. Lovely coin that is aging nicely!
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