based on my info and experience, ( I just refurbed a 9 horse seaking last winter). it all depends on what you have, I considered it a fun project so I did not account my time, but after researching a similar motor and the cost would be about $450, then on top of that if you buy one there is no garuntee it will not be in the same shape as the one you already have, if you look for a newer model the amount you pay will be exponentially higher. for you with the hp you are looking for you are probably looking at 800- 1200 to buy a similar used model my thought is that if you cut that value in half, and can figure what parts you need to make your motor new then you can assess if the rebuild would be efficient on your part if you go over half the cost of a similar model, you are not going to gain anything by it, ( do to if you would want to sell it after you finish, you figure in the bartering value, the cost of shipping, and reduced value from when you took your search on similar models, you would not have any net profit.
I was lucky, I knew the motor I had and although it had not been run it 15 years, (due to a cracked lower unit housing) I knew it had been stored in my dads basement, standing upright the whole time) I made the repairs at the cost of $150 which was closing on the median for the value of the motor, but was worth it, due to it sitting , you will probably want to pull the fuel bowl and carb and clean them up good prior to the first start, make sure there is no issues with the cylinders, ( usually you can tell if you take your spark plugs out and Slowly move the fly wheel you should be able to feel if there is any abnormal stickyness and see if there is any major scarring on the walls with a flashlight and tiny mirror. if this is a problem the fix is going to be too expensive.
hope this helps a little, after the initial inspection, then get new fuel and barrel test it, ( i prefer barrel testing, because then starting it will immediately tell you if your water pump is good, ( if it is bad and you are using muffs, you may get a false sense of security, then you take it out and burn it up on the first run, if you get it to run and it is spraying good you should be alright, and all the little stuff beyond that you can work on as you need, if it doe snot start the it is the tinker and test method, ( change plugs, test, check wires and other parts test, etc). Good luck, it taeks a while , but it is a good feeling you did the work and got it running on your own.

based on my info and experience, ( I just refurbed a 9 horse seaking last winter). it all depends on what you have, I considered it a fun project so I did not account my time, but after researching a similar motor and the cost would be about $450, then on top of that if you buy one there is no garuntee it will not be in the same shape as the one you already have, if you look for a newer model the amount you pay will be exponentially higher. for you with the hp you are looking for you are probably looking at 800- 1200 to buy a similar used model my thought is that if you cut that value in half, and can figure what parts you need to make your motor new then you can assess if the rebuild would be efficient on your part if you go over half the cost of a similar model, you are not going to gain anything by it, ( do to if you would want to sell it after you finish, you figure in the bartering value, the cost of shipping, and reduced value from when you took your search on similar models, you would not have any net profit.
I was lucky, I knew the motor I had and although it had not been run it 15 years, (due to a cracked lower unit housing) I knew it had been stored in my dads basement, standing upright the whole time) I made the repairs at the cost of $150 which was closing on the median for the value of the motor, but was worth it, due to it sitting , you will probably want to pull the fuel bowl and carb and clean them up good prior to the first start, make sure there is no issues with the cylinders, ( usually you can tell if you take your spark plugs out and Slowly move the fly wheel you should be able to feel if there is any abnormal stickyness and see if there is any major scarring on the walls with a flashlight and tiny mirror. if this is a problem the fix is going to be too expensive.
hope this helps a little, after the initial inspection, then get new fuel and barrel test it, ( i prefer barrel testing, because then starting it will immediately tell you if your water pump is good, ( if it is bad and you are using muffs, you may get a false sense of security, then you take it out and burn it up on the first run, if you get it to run and it is spraying good you should be alright, and all the little stuff beyond that you can work on as you need, if it doe snot start the it is the tinker and test method, ( change plugs, test, check wires and other parts test, etc). Good luck, it taeks a while , but it is a good feeling you did the work and got it running on your own.

Heck, it may be just fine. Before you throw the baby out with the bath water, give it a try and see if it runs. It might need a carb overhaul, water pump and/or coils. Lower unit lube for sure. You need a baseline to start with so you'll have an idea of what it needs and cost.

You can't use muffs on a '63, it has to be in the water.

I appreciate the info from both of you. Your posts give me hope. I am worried about finding parts for the motor. Do you know if there is any good websites or mail order companies? 1st thing I need to do is get a repair manual for the motor.

http://www.americanoutboard.com/shop/shop.htm
this website above is the one I finally got my parts from, there are a few places I found online just from doing searches for outboard motor parts, check ebay too, as I thought I saw some parts for an evinrude 63 thought it was a 50 but could be confused, when I did my research I spent more time looking, than actually doing the repair. also if you go to antique outboard restoration websites or outboard collector websites, they will usually have a list of their go to dealers, seems like in my searching it ends up being the same 8 or so vendors, I will try and dig up the search info when I get a chance.

iboats.com folks can give you any answers you need.

Here is a web site that you can get plenty of free information on OB's, Boats any kind. ( www.themarinedoctor.com ). Also another web site is ( www.tinboats.net ). I hope this information sites will help also. For myself I'm repairing a 25 Evinrude 1971 from a pull to electric start. So good luck on your project.
Dennis

Pougue: I don't mean to be a wet blanket but remember that the newer the motor, the less it weighs for the same HP. I can find a newer 75 that weighs a lot less than the old 50 you have! That said, Sierra Marine is a good source for vintage outboard parts (but not the only one) and keepint that classic running shouldn't be to much of a problem if you are handy with a wrench! Tom

The first thing you must do is check the compression of the cylinders if they are even the motor shoud be good.then check the spark if that is good clean the carb and change lower unit fluid and you shoud be good to go

Compression. Great point. I appreciate everyone's info.

I'm getting a "403" error on that vintageoutboard website.

Anyone else able to get there?

it would at leas cost 2,000 dollars cause I just bought one but u might be better of getting new parts for your motor

Try this http://www.nymarine.ca/ and also marineengine.com.They carry a very good line of factory and after market parts.I've gotten a lot of parts for my 55 5.5 Johnson from them.nymarine is in Canada and he carries some parts,decals and oem matched paints.

Thanks I just found out that none of the service centers will work on my motor.

I found a great book on at amazon.com called Cheap Outboads, the beginner's guide to making an old motor run forever by Max E Wawrzyniak III. This has been a great book to help me get more info on my motor. Thanks again to everybody that has helped with information.

If you look on e-bay you can probably find an original shop manual for that motor. My wife found an original 1967 Evinrude shop manual for my  Starflite 80 there for @ $20. It has been priceless for me.