Just looking at Morgan Dollars, looks like NGC hasn't updated their coin values in 8 years or more? It isn't just low graded circulated coins, it's even more noticable in MS categories.
Honestly, I think all the price guides are very outdated right now. Inflation I'm sure plays a part in it but I think they're just out of date versus reality. Around 2014 I would have told you they're all high retail prices in the guides. Meaning higher than Street price for the most part. Now I think they're 10 or 20% lower than reality, at least as far as eBay prices, coin dealer prices, and great collections. This might be the first time in my lifetime that the price guide prices are actually lower. I can't think of another time or collectible where this would be the case, but I feel confident it's true for coins right now for NGC, PCGS, CACG graded coins with average to above average eye appeal.