MS62 vs MS63: Where the Real Value Starts?
When it comes to investing in Morgan Silver Dollars, understanding the difference between MS62 and MS63 can significantly impact your buying decisions. While these two grades might seem close on the Sheldon scale, they represent a subtle yet important shift in value and market desirability.
In this guide, we’ll break down why MS63 is often considered the sweet spot in Morgan Dollar collecting, and how you can find hidden value in both MS62 and MS63 coins.
📊 What Are MS62 and MS63 Morgan Dollars?
Before we dive into comparisons, let’s start by understanding what these grades mean:
- MS62: Mint State 62 coins are uncirculated, but they show noticeable contact marks and abrasions. These marks typically occur from handling or storage, and they affect the coin’s visual appeal but not its overall preservation.
- MS63: Mint State 63 coins also remain uncirculated but show fewer and less distracting contact marks. The overall eye appeal is better compared to MS62, and the coin may exhibit stronger luster and better definition on the design elements.
In short, the difference between MS62 and MS63 is primarily in the coin’s appearance. The MS63 grade represents a higher level of quality and visual appeal — and for many collectors and investors, this makes a huge difference in both investment potential and collector demand.
💸 Why MS63 Morgan Dollars Hold More Value
1. Greater Market Demand
As a general rule, coins graded MS63 tend to be in higher demand compared to MS62. This is because the extra quality in MS63 coins appeals to both collectors and investors. In fact, many collectors prefer the look of a well-preserved MS63 coin over an MS62, even if the grade difference seems minimal.
The improved visual appeal can lead to higher resale prices when compared to MS62 coins, particularly for common dates that are widely available. For key dates, the demand for MS63 often jumps considerably.
2. Stronger Potential for Appreciation
Coins in the MS63 grade are often seen as better long-term investments compared to MS62. This is because:
- Market trends show that MS63 coins often see stronger price appreciation than MS62, particularly for dates that are more abundant in lower grades.
- Higher-grade coins are generally less sensitive to short-term price fluctuations in the silver market, as collectors tend to focus on the numismatic value, which increases over time.
For instance, if you were to compare two coins — one MS62 and one MS63 — of the same date, the MS63 coin would likely hold its value better in the long run, especially if it’s a more popular date or a coin in strong condition.
3. The “Sweet Spot” for Collectors
For many collectors, MS63 is considered the “sweet spot” for Morgan Dollars. It strikes a balance between affordability and quality. MS62, while still valuable, can sometimes feel like a compromise, especially if you’re seeking coins with better eye appeal or a more visually stunning luster.
If you’re a new collector, MS63 coins provide a perfect starting point. They give you a higher-quality piece without the significant price premium of MS64 or higher grades, making them a more affordable investment for those looking to get into Morgan Dollar collecting without going over budget.
🔍 How to Spot the Difference: MS62 vs MS63
The gap between MS62 and MS63 might seem small, but it’s essential to know how to spot the difference to ensure you’re getting the right coin for your collection or investment. Here are the key indicators to look for when comparing these two grades:
1. Contact Marks
- MS62: These coins show more pronounced contact marks and scratches on the design. You might notice significant marks on the face or eagle’s wings.
- MS63: Contact marks are fewer and less distracting. While there may still be marks, they tend to be more evenly distributed and less visible.
2. Luster and Eye Appeal
- MS62: The luster on MS62 coins may be dull in areas due to contact with other coins. The overall visual appearance is not as bright or reflective.
- MS63: MS63 coins tend to exhibit better luster, especially in areas that are more exposed to light, such as the fields of the coin. They will often shine with a beautiful cartwheel effect.
3. Strike Quality
- MS62: The strike may show weakness in areas such as Liberty’s hair or the eagle’s breast feathers. This can be due to the way the coin was struck.
- MS63: A stronger strike will present clearer details in these areas. The coin will look more well-defined, and the design will be crisper.
📈 The Price Difference: Is It Worth It?
For those considering whether to choose an MS62 or MS63, it’s essential to understand how the price gap between the two grades plays into your decision-making.
Generally speaking, MS63 Morgan Dollars can fetch 10%–30% higher prices than their MS62 counterparts, depending on the coin’s date and rarity.
| Grade | Average Price (Common Date) |
|---|---|
| MS62 Morgan | $70–$100 |
| MS63 Morgan | $100–$150 |
| MS64 Morgan | $150–$250 |
For more common dates, the price difference between MS62 and MS63 may seem small at first. However, the investment potential in MS63 tends to be more stable, and collectors often gravitate toward higher-quality examples when the time comes to upgrade or resell.
🧐 Should You Choose MS62 or MS63 for Your Collection?
It depends on your goals and budget. Here are some factors to consider:
1. Budget Constraints
- If you’re working within a tight budget, MS62 coins might be your best option, offering an entry point into Morgan Dollar collecting without overspending. But keep in mind that MS63 offers more value for only a slightly higher cost.
2. Resale Potential
- If you’re looking for a coin that will hold its value and have better resale potential, MS63 is likely the better choice. Coins in this grade tend to show more stable long-term appreciation compared to MS62.
3. Personal Preference
- Ultimately, the choice comes down to your personal preference. Do you value eye appeal and a cleaner, sharper coin? Then MS63 is the way to go. If you’re okay with a coin that shows more signs of wear and handling, then MS62 might work for your collection.
💡 Final Thoughts: Where the Real Value Starts
While the difference between MS62 and MS63 may seem minor, it can have a significant impact on both your collection’s aesthetic appeal and its investment potential. MS63 coins represent the sweet spot where quality meets value — offering excellent eye appeal, solid market demand, and a great balance between affordability and long-term growth.
At SpringHillCoinShop.com, we offer a wide range of MS62 and MS63 Morgan Silver Dollars — carefully selected to ensure authenticity and quality. Whether you’re just starting your collection or looking to add to an existing set, these coins are the perfect starting point for your investment in numismatics.
🧠 Key Takeaways
- MS63 offers more value in terms of eye appeal and investment potential than MS62.
- MS62 is an affordable entry point for collectors, but MS63 provides better long-term appreciation.
- Price differences between MS62 and MS63 are often justified by the added quality.
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