How bad do you hate MS62s?

topstuf · April 30, 2016 11:11AM

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?

CommemKing · April 30, 2016 11:16AM

Yep...

roadrunner · April 30, 2016 11:17AM

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.

braddick · April 30, 2016 11:30AM

Originally posted by: roadrunner
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.

JohnnyCache · April 30, 2016 11:41AM

I love my 62's. I'm particularly fond of this one, and I think it's nicer in hand.

Desert Moon · April 30, 2016 12:06PM

topstuf, I missing something in your reasoning, cause I have some nice 62's................

Best, SH

DIMEMAN · April 30, 2016 12:39PM

62 is like any other grade......there are great ones and awful ones.

ksuscott · April 30, 2016 12:46PM

I'm in the camp that likes 62's....at least the right ones. The number on the holder doesn't deter me, but I'm not working on a top pop set. I like coins with original surfaces and mint luster. We can't all be 65's...I know I'm not.

Cougar1978 · April 30, 2016 12:52PM

When I first started investing in coins MS64 was my minimum grade based on a coin investment book I had read. This has since changed to MS65 as values of these coins easier to find in CW (which does not list MS64 for many issues). Many mornings over coffee I will do a search for PCGS 65 on my iPhone for ebay with CW handy then look up coin in PCGS CF putting together Want List and inputs to AS. I use my iPhone as the primary tool.

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.

Baley · April 30, 2016 1:50PM

Well, it certainly depends on the series. For some issues, an MS62 is an awful coin, the nice coins with presidents on them start at 65 or 66.

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.

msch1man · April 30, 2016 1:50PM

Originally posted by: DIMEMAN

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)...

Walkerfan · April 30, 2016 2:23PM

I only own one 62.

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.

bolivarshagnasty · April 30, 2016 2:27PM

Just sent this one in for regrade. Went up from 61 to 62.

BryceM · April 30, 2016 5:01PM

These don't suck:

Boosibri · April 30, 2016 7:57PM

A few 62's

JJSingleton · April 30, 2016 9:42PM

Yep, when I reel in a 62 I always throw them back.

pop 2/0

Gazes · April 30, 2016 9:56PM

JJ Singleton--beautiful half eagle. Enjoyed reading about your type set.

Boosibri · April 30, 2016 10:20PM

Lovely 39-D!

lkeigwin · April 30, 2016 11:08PM

More MS62's. Love them.

Lance.

coinsarefun · April 30, 2016 11:38PM

I don't look at the number until after checking out many other things about the coin first......

rhedden · April 30, 2016 11:48PM

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.

etexmike · May 1, 2016 12:20AM

Originally posted by: DIMEMAN

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

topstuf · May 1, 2016 1:00AM

I think 62s come from bad commutes for the graders.

When the traffic is light, they can get to 63 or higher.

topstuf · May 1, 2016 1:02AM

All this angst is over a nicely toned example that is baggy.

Looking at the coin, I can't understand how so many marks could hit it without some wear on the devices.

GeorgeKellogg · May 1, 2016 1:11AM

Originally posted by: JJSingleton
Yep, when I reel in a 62 I always throw them back.

pop 2/0

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.

ranshdow · May 1, 2016 1:20AM

My only 62

PerryHall · May 1, 2016 1:29AM

Originally posted by: rhedden

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.

topstuf · May 1, 2016 2:14AM

Okay, time for a committee to deal with everyone who ever says, "Depends on the coin."

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.

crazyhounddog · May 1, 2016 2:39AM

I have a few 62 pieces that I love quite a bit. No room for hate in the hobby.

EastonCollection · May 1, 2016 3:00AM

Ok - I too love the 62 grade - there are some very nice 62s and some ugly 62s - this issue exists with all grades.

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!

dogwood · May 1, 2016 3:09AM

62's aren't terrible. The ones posted so far are quite nice indeed. I can post the only one I own, and I think it holds up well.

IrishMikey · May 1, 2016 8:02AM

$10 and $20 Liberties in MS-62 are often very attractive coins, and the common dates can be had for a small premium over melt. It helps to check them out first...

LeeBone · May 1, 2016 10:12AM

I am fine with mine as a 62

brg5658 · May 1, 2016 10:21AM

I usually don't mind MS62 coins. But, MS61 and MS60 are often the kiss of death (i.e., dogs).

OnlyGoldIsMoney · May 1, 2016 10:27AM

I own seven 62's. Here is one of them.

golden · May 1, 2016 11:11AM

There are nice 62's and there are dogs, just as there are in 65.

steveben · May 1, 2016 11:14AM

some of my favorite coins are ms62:

tradedollarnut · May 1, 2016 11:18AM

I love my MS62

david3142 · May 1, 2016 11:54AM

Um, I think TDN wins.

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:

deefree49 · May 1, 2016 2:40PM

Sorry not to have a picture but I have a 61 that is one of my favorite coins! Lincoln 1916-D 61BN. Honestly it is actually graded wrong. In reality it is probably a 63 or 64. Still a 62 can be nice. It depends where the marks are or if the graders were having a bad day. None of the coins I own are absolute numbers really. They could all go up or down at least a + or 1 grade.

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!

BryceM · May 1, 2016 3:31PM

This coin graded MS62, twice! I submitted it once thinking it to be an MS65 coin. It came back MS62 so I showed it around at the ANA. Several smart folks saw it the same way I did. I cracked it out a couple years later and sent it back in to fill out my "free" eight yearly submissions. Same result. After that, I spent a little time with it and could see that there really was just a bit of rub - technically an AU58, net graded up for its other qualities (like it matters for this common date). It's easiest to see on the breast. I gained a bit of respect for the grading room guys who do this day in and day out. Very few people would have complained if it was in an MS65 holder.

DarkStar · May 1, 2016 7:17PM

My 62s. These aren't the worst coins ever, I think.

asheland · May 2, 2016 4:20AM

Great coins in this thread!

Elcontador · May 2, 2016 11:12AM

In what I have seen and collect, I avoid the grade.

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.

cheezhed · May 2, 2016 12:14PM

What a wonderful thread with some fantastic 62's!

BUFFNIXX · May 13, 2016 1:38AM

I just picked up a 1914 buffalo nickel, matte proof pf62 and for the life of me it looks like a 64. So, it depends on the coin.
Some 62's can be really nice.

MonsterCoinz · May 13, 2016 3:11AM

I used to own this 62. It was very lustrous. Wish I had it back.

SkyMan · May 13, 2016 3:47AM

JJSingleton · May 13, 2016 11:35PM

And another 62 I hooked that needs to be thrown back.

huh...Green Pond / Bass. Get it?

How bad do you hate MS62s?

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