Is This A Nice Morgan?

Definitely a nice looking coin.

I know what the grading means thank you. However what does baggy mean? I thinking maybe form being in the original mint bags with other coins?

So would you hang on to this one or keep it the bullion pile?

The bad thing is I am starting to like these things and might consider collecting in addition to the bullion coins.

I collect Morgans and do ASEs for bullion. The ASEs have no character by comparison.

There are tons of 1921 Morgans available in better condition than yours appears to be. Baggy - A lot of bag marks from other coins in the storage/handling bag at the mint make for the knocks and nicks on the face of yours. It is MS ( Mint State) uncirculated. You can tell that from the mint luster, and the lack of wear. You have no rim damage, The hair lines are clean and crisp, the cotton bolls show distinct blossom details, the eagle breast feathers are sharp.
MOst Morgan MS run from 60 to 65. MS70 is the highest grade for any coin.

your thought of the definition of baggy is exactly what it means. These things were stored in mint bags and they would clack against each other when moved causing all these little marks on the coin each time another coin came in contact with it. I am guessing the term came from this because coins that were in mint sewn bags and opened for the first time had allot of these marks so they knew it wasn't from circulation, they were from being in the bag with its counterparts, so the term "Baggy" got put in place to describe a Uncirculated coin with marks like your coin shows in the picture