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In the United States, the term “Rare Coins” generally applies to many United States coins minted before silver was removed from our coinage after 1964. But that does not mean that all so-called “Rare Coins” are truly rare. And probably no two dealers, scholars or collectors would precisely agree precisely what “Rare Coins” are. So here is how we define the term: A rare coin is one that relatively few survive because of a small mintage or low survival rate (due to factors ranging from normal wear and tear in usage to official and unofficial meltings). Contrary to what many people think, just because a coin is old does not make it rare, and conversely—a relatively recent issue can be very rare. Rare coins have been the nucleus of the hobby of coin collecting in the United States for over a hundred years, and in recent years, auctions of the rarest of rare coins at higher and higher prices continue to make headlines.