I would expect Morgans with actual chopmarks to be rather scarce to rare. The large silver coins, 8 reales, Trade dollars, Seated dollars etc circulated in China based on the weight of the silver, not on a tale basis, so by the mid to late 1880's the Morgan dollars would have passed in China at around 50 cents apiece. If you could spend them in China for 50 cents or bring them home and spend them for a dollar which would you do? That was why the Trade dollars started coming back to the US from China, until 1876 they could be spent here for a dollar, but their trade value as silver in China had dropped to about 80 cents.


















