And beyond the quality control which dave touched on, most Morgans did not circulate, they just sat around in bag in bank vaults, other than being moved they stayed (for the most part) in nice condition.
EDIT- I don't mean to imply they didn't circulate at all, it's just the majority of them didn't, those that did seem to have really circulated a lot, but millions upon millions were realeased in uncirculated bags 70-150 years after they were minted. Most of them went out at Chirstmas time to local banks where so many people got them to give out as gifts, then they stored them away again.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA
Life Member #3288 in good standing since 1982, EAC Member #6202, NBS Member, 2¢ variety collector.
See my want page: http://goccf.com/t/140440
Edited by westcoin
02/22/2012 12:46 am