$5 Indian Head Gold Coins MS 62
MS 62 is the contraction for the denotation "Mint State Grade 62". "62" is a grade on the Sheldon coin grading scale, developed by Dr. W. H. Sheldon in 1949. Coins that have not been circulated earn a grade of 60, and coins that are utterly perfect in every way earn a grade of 70, the top of the Sheldon scale. Old gold coins in lower denominations such as $5 did see use in commerce (not to mention the mass confiscation and melting in 1933) and are seldom ever seen in a 70 condition, and usually top out on the scale at a MS 65 or MS 66.
Specifics of the Grade
A $5 Indian gold piece in MS 62 will show normal wear in the form of nicks and scratches, and these mars will probably be in the more delicate areas of the coin, such as the "Field" or blank background of the coin's design, though there may or will be some light marring on the Indian's incused or sunken stamped designs as well. The 62 designation may also be assigned to a coin which has only a few scars from wear and tear over the decades, at the hands of bankers or transporters, but exhibits several cracks or die flaws from it's original minting.