Really tough call. Seated halves have an obverse that's so mushy they all look circulated, and a reverse that's so strong they don't really show wear until XF. It's a case where you don't settle on a grade until you get to move it around in-hand and observe how the light plays off the higher points.
It looks to me like the character of the reflected light off the high points on the obverse is enough different from the lower points to indicate rub or circulation. Knowing how uncommon these are in Mint State, I'd hazard a guess that a TPG would call this one high AU, and I'd agree with that assessment.
It looks to me like the character of the reflected light off the high points on the obverse is enough different from the lower points to indicate rub or circulation. Knowing how uncommon these are in Mint State, I'd hazard a guess that a TPG would call this one high AU, and I'd agree with that assessment.

























