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As stated in the link below, when a magnet bar (or a current loop) is placed in an external magnetic field it (its magnetic moment) becomes aligned with the magnetic field while an orbiting electron would have precession with Larmor frequency. What is the reason for these different behaviors?
http://hyperphysics.phy-astr.gsu.edu/hbase/magnetic/larmor.html
http://hyperphysics.phy-astr.gsu.edu/hbase/magnetic/larmor.html
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