1878 is the first year of the Morgan Dollars with eight(8) tail feathers on the Bald Eagle which were changed to reflect the actual 7 tail feathers.  It is estimated that 750,000 were in circulation. 
 
There is some wear in the high spots on the profile (obverse), while the reverse has minor wear on high points although the eagles breast is flat which is due to the die standard at that time. It is well struck, most of the mint luster is present although there are light bag marks and surface abrasions.  This meets the ANA grading standards for an AU53.