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<p>[QUOTE=&quot;Vess1, post: 652296, member: 13650&quot;]People have collected coins through out history as they came out from the banks.&nbsp; For example, when the Flying Eagle cents came out, it was a big deal.&nbsp; I think the Philly mint or some bank nearby had an initial public offering for them.&nbsp; And the lines were long because there was a lot of hype about them.&nbsp; Everybody wanted to get their hands on some.&nbsp; Many who got theirs first (just like modern times), went to the end of the line with them and sold them at huge premiums to other collectors who might not have gotten any.&nbsp;&nbsp; Within minutes after obtaining them.&nbsp; &nbsp; </p><p><br /></p><p>&nbsp; Sometimes entire dates of coins were hoarded in general.&nbsp; During the Civil war, nobody knew which side would prevail and people got nervous about giving up their silver and gold coins so a lot were hoarded during that time and they chose to use paper money instead.&nbsp; It&#039;s also why they had to have Civil war tokens because of the money shortage, primarily caused by hoarding.&nbsp; Many gold and silver coins of that time period didn&#039;t see the light of day again until the 1870s and 80s.&nbsp;&nbsp; At which point maybe some collectors got their hands on some and stashed them away again.&nbsp; </p><p><br /></p><p>&nbsp; Before the 1930s, I don&#039;t think the U.S. mint offered a whole lot.&nbsp; So most coins would have went directly from the mint to banks and then dispersed to the public that way.&nbsp;&nbsp; If the public knew it would be the final or first issue for a series, a lot of times they would get hoarded as they were released.&nbsp;&nbsp; </p><p>&nbsp;&nbsp; Morgan dollars have their own story all together.&nbsp; In short, silver mining interests in the west lobbied congress to buy their silver because there was an excess.&nbsp;&nbsp; Despite the fact that there was no real demand for silver dollars in this country, the U.S. govt signed a bill into law to make millions and millions of Morgan dollars.&nbsp; Most of which never saw circulation and sat in mint bags for many decades.&nbsp; This is why there are so many MS and toned morgans because the canvas caused many of them to turn colors as they sat over the decades.&nbsp;&nbsp; </p><p>&nbsp;&nbsp; Eventually, the mints and banks didn&#039;t want to hold on to them any longer so they were sold to the public at face to get rid of them.&nbsp; Mainly for Christmas presents and collectors.&nbsp;&nbsp; They were still finding bags of them in the 1970s to get rid of.&nbsp; &nbsp; A huge number of them were melted by the Pittman Act and turned into Peace dollars.&nbsp;&nbsp; Many of which were probably MS-64,65 or better.&nbsp; </p><p><br /></p><p>&nbsp; Some series&#039; get very expensive in higher grades because nobody saw the need to hoard them for any reason so there aren&#039;t many high quality examples left.&nbsp; </p><p><br /></p><p>&nbsp;Also realize that the actual original mintage figures shown in the Redbook are NOT what&#039;s left in existence today.&nbsp; &nbsp; On average, there&#039;s probably less than 50%, some far less, of original mintages left in existence today for most issues.&nbsp;&nbsp; Many coins have been melted down over time and used to make the next issue they came out with.&nbsp; </p><p><br /></p><p>&nbsp; It also depends on your definition of uncirculated.&nbsp; I get about uncirculated (AU) 2008 coins in change all the time, despite the fact that they have circulated.&nbsp; Some 2008 and 2009 coins circulating in change could be pulled today and would probably still classify as BU examples.&nbsp; Some, not all, depending on the abuse they&#039;ve taken.</p><p><br /></p><p>&nbsp; I hope this helps.[/QUOTE]</p><p><br /></p>

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