It's a more common date silver dollar that has no collector value due to wear or other damage such as bent, dented, badly nicked, scratched, shows somebody's initials or other non-mint letters, has a hole drilled in it, etc.
From PCGS: A coin that is basically non-collectible due to its extremely bad condition. A coin that will not even qualify for a grade of Poor-1, usually because of extensive environmental damage or other post-striking damage.
Circulated common date Peace-type dollars generally sell at about $3-4 over spot depending on the dealer. The same Morgan type dollars generally trade at dollar or two higher because they are prefered by many people.
"...A "CULL" coin: is a coin that is also referred to as "junk". If the coin in question has a silver content its referred to as "junk silver"..."
As information for whoever wants it....
"Cull" graded silver dollars have never been included in the class "junk silver".
"Junk silver" is a term that coin collectors originated years ago to refer to non-collectable (for whatever reason) 1964 and earlier 90% silver dimes, quarters, and half-dollars. They were referred to as "junk" because of their being classed as non-collectable and compared to today, the low value of silver.
Today they are anything but "junk" but are occassionally still called that. More often they (dimes, quarters, and halves) are called "90%" silver.
Side bar: 1935 and earlier U.S. silver dollars are also 90% silver but are never referred to as "90% silver".