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In 1908 the transition was made from the long-lived $5 Liberty series (1839-1908) to the radically designed $5 Indian. Both the $5 and $2 1/2 Indian gold pieces were introduced in 1908, and both carried the incuse design, never seen before (or since) on a United States coin.
The $5 Indian series is filled with rarities. In fact, 15 of the 24 dates have a population of seven or less in MS65! Two of the 24 dates are unknown in MS65 or better, or at least uncertified. PCGS has graded well over 40,000 $5 Indians in all dates and grades, but barely 300 have qualified as MS65 or better. Key dates of the series in any mint state grade include the 1908-S, 1909-O, 1909-S, 1910-S, 1911-D, 1912-S, 1913-S, 1914-S, 1915-S, and 1929.
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