1908 $5 Indian MS64 Certification #60065377, PCGS #8510
Don't be fooled by the relatively high mintage of this date -- it is a true condition-rarity in top grades. David Akers' analysis of the 1908 $5 Indian appears to have withstood the test of time, including the rarity of "nearly perfect" examples. His "some" back then translates to "extremely rare" today, as the number of MS67 examples certified by PCGS is exactly two, with none finer. From 1988 to 2012, only one MS67 had been certified by PCGS. NGC reports a single MS68, but that one has yet to appear at auction.
David Akers (1975/88)The 1908 is the second most common issue of the series after the 1909-D and is by far the easiest to locate in gem condition. Finding an MS-63 or lower grade example is quite easy and even MS-64 specimens are encountered with some regularity. In MS-65, the 1908 is very scarce, if not rare, but there always seems to be a few on the market at any given time. Some really superb, nearly perfect examples of this date also exist, probably saved as mementos of the first year of issue.
The typical 1908 is well struck with very good to excellent lustre and satiny rather than frosty surfaces. (There are many specimens of the "soft" frosty type as well, however.) Color varies widely from rich greenish gold to bright yellow gold to orange and greenish gold.