[Axenolith]

Their condition is what indicates that they were saved over time. It is mentioned that paper money was illegal then, but in actuality what California had was law that stated the method of payment could be stipulated in a contract. Everyone preferred to stipulate that payment in specie usually (gold or silver). Gold and silver in the west circulated a lot and subsequently suffered significant wear from that circulation. Few major coins that circulated in the west stayed in good shape.

In the detecting world, we know that coins dug up in the pristine state circulated very little if at all, we call them a "fresh drop", i.e. it was dropped fairly close to the time it was minted and placed in circulation.

This dime below was a pretty "fresh drop" (the pennies don't do real well in the soil type the dime was found in, other places they come out nice though)

[the OlLine Rebel]

The article seems to indicate the vast majority were “mint state”. At least, they were apparently in damn good shape, and it is gold, which is basically impervious to corrosion. I don’t recall anything in the article indicating any coins were pretty worn or corroded.

[ErnBatavia]

Wifey is one that will pick up a "lucky penny" whenever she sees one on the ground.....several months ago, leaving a restaurant, she spied and snagged one and dropped it into her pocket.

When we got home, she discovered that it was an almost toally uncirculated 1901 Indian Head - musta been somebody's lucky charm or some such.