Slightly undergraded in my opinion, as the Reverse looks more like VF-25+. This may be due to the odd strike common to all 1909 Barber Halves, which is due to some sort of hubbing issue that year.   On all 1909 Halves, LIBERTY is typically stronger and more complete than the rest of the Obverse, leading to overgrading of raw coins in VG to VF grades.  This is certainly a real VF, probably undervalued based upon typical grading.  Recovered out of an ex-California hoard, slightly "grubby" and problem free, like you wished all Barber Halves were.  In my opinion this would almost certainly CAC if submitted, just not worth my expense for the slight bump in value.

PCGS 6518.20/59035998