How bad do you hate MS62s?
topstuf
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What's wrong with me?
I see a purty coin and it says 62 on it and I can see "why" and still becuz it's purty, I wanna get it and I know I'll kick myself and always look at that dumb number on the slab and why don't I collect purty rocks?
I see a purty coin and it says 62 on it and I can see "why" and still becuz it's purty, I wanna get it and I know I'll kick myself and always look at that dumb number on the slab and why don't I collect purty rocks?
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On the flip side, one of favorite retailers shipped me a different NGC MS62 1858-0 quarter back around 2003-2004 at an ask price of $2200-$2500. The coin didn't even have close to full field luster and was heavy with high point rub. I graded that one a decent AU58/55. Needless to say it got sent right back to them. Some MS62's are great and others not good at all.
I owned a wonderful NGC MS62 1858-0 quarter back in 1988. Full luster, nice color, and no bad marks. One of the few real unc 58-0 quarters I've ever seen/handled. There's no AU58 that could have held a candle to it....even today. Cost me about $475.
On the flip side, one of favorite retailers shipped me a different NGC MS62 1858-0 quarter back around 2003-2004 at an ask price of $2200-$2500. The coin didn't even have close to full field luster and was heavy with high point rub. I graded that one a decent AU58/55. Needless to say it got sent right back to them. Some MS62's are great and others not good at all.
Honestly, in this case the first coin sounds like it's an MS64 or better and the second coin an AU.
Neither appear to be a legit 62.
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I do have lower grade coins (than MS65) on deals I bought or auctions I won where cost is considerably less than Market Value.
Demand can move sideways where people priced out, that is if a collector / investor can not afford an issue or type in MS65, he may collect a series more affordable or simply bulk up on what suits him. For mods I favor MS69 but do have some MS70's where won just a few bucks over 69 price. Most of my bidding on mods are x dollars above melt and I like getting them for less than melt plus slab cost or like 50% of MV per TPG price guide. For vintage coins say like at a show - material brought to my table - I may offer 60-70% of market value depending on what I think I can sell it for. Some I may refer to auction history per CF in calibrating this. Many MS62 pieces I pass on, just simply to unattractive for me.
Whether its a 10 dollar or 10,000 item it all adds up. I have done well retailing coins like VG Barber Halves from my online store.
The only parameters I consider in gauging the market are silver, gold, platinum bullion prices and the PCGS 3000. I take dealer marketing letters with a grain of salt as I can see these as what they are - a promotional tool for their inventory. Not knocking it, used to have my own marketing letters at my table at shows.
Technically I consider MS62 coins average uncirculated. Some can be attractive others ones I would want just blow out. I do not pursue these as a target for investment. In the Peace Dollar Series MS62 coins can be a good hole filler. My Peace Dollar Set has coins from VF20 to MS965 and there is nothing with filling the hole with a nice circ wehre the Gem super expensive.
Other coins, such as ones that the date starts with 17-, an MS62 is a spectacularly nice coin.
On the other hand, no matter what, "purty" is a really stupid way to spell a word.
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62 is like any other grade......there are great ones and awful ones.
100% agree with this.
My favorite 62 that I currently own (purchased from and photographed by forum member mercurydimeguy)...
It is a 1920-S purchased 11 years ago and I don't regret it for a moment.
It looks better than a lot of 64s I've seen.
Someday, when I get around to it; I'll have it re-graded.
But in the meantime; I am in no hurry, as I really love the coin and don't care what the paper insert says.
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Other times, an MS62 coin is a mark-free slider AU58 that is just too nice to be graded AU58 by modern standards.
I think many of us seek out the latter type of MS62 and shun the former.
62 is like any other grade......there are great ones and awful ones.
There are some great examples out there to be had in all denoms.
Mike
When the traffic is light, they can get to 63 or higher.
Looking at the coin, I can't understand how so many marks could hit it without some wear on the devices.
Yep, when I reel in a 62 I always throw them back.
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As JJ's tongue-in-cheek answer implies, it depends upon the series. The question has a vastly different connotation to Morgan Dollar collectors, for example, than it does to Dahlonega specialists.
The images of my 1861-D Half Eagle are courtesy of BluCC Photos.
Sometimes an MS62 coin is an otherwise MS66 quality piece that is hacked up with bagmarks so heavy that you'd swear some of them come through to the other side.
Other times, an MS62 coin is a mark-free slider AU58 that is just too nice to be graded AU58 by modern standards.
I think many of us seek out the latter type of MS62 and shun the former.
Agree with this. Some MS62's are attractive and some are ugly. Depends on the coin. Also, sometimes the next higher grade of MS63 is worth multiples of what a MS62 is worth which means a decent looking high end MS62 might be a great coin to purchase and a great value.
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Maybe some island where they could be confined with the "Buy the coin, not the holder" tribespeople.
Hard to find an island big enough. Maybe Madagascar.
Below is a pcgs 62 that I acquired and I thought it was undergraded so I sent it in for a regrade and it came back as a 64. SO i guess its not a 62!
I am fine with mine as a 62
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My sets: [280+ horse coins] :: [France Sowers] :: [Colorful world copper] :: [Beautiful world coins]
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https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
There are some great coins above although many were pretty clearly under graded, so it isn't as fair to embrace the 62 grade if it really is a 63+ coin. (I think the graders must have been having a really bad day when they looked at that 1859 Half Eagle.)
As others have said, it greatly depends on the series. Capped Bust coins have a much blurrier distinction between AU and Unc, so 62s are often quite nice. Morgans in the same grade tend to be ugly, but some have other attributes that make them attractive.
I currently own 9 slabbed 62s and a few more raw ones that would probably make that grade. Some of them look like a 62 but I nonetheless enjoy owning (such as these)
and some I believe were undergraded:
If YOU like the 62, by all means get it, enjoy it and don't pay a lot of attention to the number. Instead, look at the COIN!
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Many open collar coins, like Capped Bust Halves, I see what I think are high end AU coins in MS 62 holders. I don't think you're going to get it right all of the time, distinguishing between slight wear and a coin which is not fully struck (with open collar coins), by looking at them for only a few seconds.
I have yet to hold in hand an MS 62 Morgan which I thought was an attractive coin.
I did see an 1810 Classic Large Cent in MS 62. The coin was Unc. all day long, but it was lifeless and to me, not attractive.
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Some 62's can be really nice.
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