Test the metals for magnetism by placing a magnet near it. If it is attracted by the magnet it is not a real silver dollar .Since silver is not magnetic, there must be other metals in it such of iron, nickel, or zinc.
You really can't without testing it for silver. Since the US Mint didn't produce Morgan dollars that weighed a pound, you can't simply look if the image doesn't look right because they were made by multiple private mints and there are no specifications for it so you will simply have to take it to a jeweler and have it acid tested.
One of the best ways to determine if it's real or fake it to weigh it. A genuine U.S. silver dollar should weigh 26.73 grams. A coin might weigh very slightly less if it's significantly worn, but it shouldn't be off by too much.
A real one should weigh 26.73 grams (slightly less if well worn). A fake would have a different weight.
Check the weight. A genuine Morgan dollar should weigh 26.73 grams; possibly slightly less if it's heavily worn.
If you have a 1895 Morgan with a Carson-City mintmark it's fake. 1893 was the last CC Morgan dollar.
It means it's not real. a copy and or fake.
A genuine 1795 dollar is silver, but it's not pure silver. The coin is a fake if it's not silver.
No Morgan dollars were struck at the Carson-City Mint in 1886, 1887 or 1888. Any coins with these dates and "CC" mintmarks are fake.
A Morgan silver dollar is a large dollar coin, on the front there should be a depiction of Lady Liberty's face wearing a small crown saying "LIBERTY" on it the reverse features an eagle with olive branches and arrows and a wreath at the bottom. They were dated 1878 to 1904 and also made in 1921. The only other coin that could be easily confused with a Morgan dollar is a Peace Dollar of which some were also minted in 1921, they have the same size, but the liberty on a Peace dollar looks like there are rays coming out of her head and the reverse of a Peace dollar has an eagle perched on a rock engraved PEACE.
Please check your coin again. Morgan Silver dollars were minted from 1878 to 1904 and in 1921. No Peace dollars were minted in 1932 due to the Great Depression. If you have a U.S. $1 coin with that date it's a fake. If you have another denomination coin such as a half-dollar, please post a new question with more details.
If it's a fake, it's worth little to nothing.
The term "Morgan dollar" refers to the standard silver dollars designed by George T. Morgan and minted from 1878 to 1904 and in 1921. Trade dollars were struck for use in international trade and were designed by William Barber, who was more famous for creating the images used on dimes, quarters, and halves from 1892 to 1916. Please see the Related Question for more information.
A few things you can check are the weight it should be 26.73 grams. Also look at the rim of the coin if you see what looks to be a seam it's fake. The best thing to do is take it to a dealer or collector.
First of all, there is no such thing as a 1923 Morgan Dollar. Next, you'd have to evaluate if it's fake or real and go from there. Send it to a reputable grading company.
Without examining the coin it is impossible to tell if it is genuine or not. But there are legitimate 1921-S (Morgan) dollar coins struck. If you have a Morgan dollar that has the same weight, dimensions and design as known legitimate coins (and the coin doesn't say COPY or REPLICA or anything like that on it), it is most likely genuine. 1921 is an incredibly common date for Morgan Dollars and most counterfeiters won't bother making deceptive counterfeits of it.
Nothing, because it's a fake.