There is perhaps no field of inquiry concerning literature in which so large an amount of actual misinformation or of ignorance exists as that of the rarity of many books. The makers of second-hand catalogues are responsible for much of this, in describing the books which they wish to sell as "rare," "very scarce," etc., but more of it proceeds from absolute ignorance of the book-markets of the world. I have had multitudes of volumes offered for sale whose commercial value was hardly as many cents as was demanded in dollars by their ill-informed owners, who fancied the commonest book valuable because they "had never seen another copy." No one's ideas of the money value of any book are worth anything, unless he has had long experimental knowledge of the market for books both in America and in Europe.
What constitutes rarity in books IS a question that involves many particulars. Thus, a given book may be rare in the United States which is abundant in London; or rare in London, when common enough in Germany. So books may be rare in one age which were easily found in another: and again, books on certain subjects may be so absorbed by public demand when events excite interest in that subject, as to take up most of the copies in market, and enhance the price of the remainder. Thus, Napoleon's conquering career in Egypt created a great demand for all books on Egypt and Africa. The scheme for founding a great French colony in Louisiana raised the price of all books and pamphlets on that region, which soon after fell into the possession of the United States. President Lincoln's assassination caused a demand for all accounts of the murder of the heads of nations. Latterly, all books on Cuba, the West Indies, and the Philippines have been in unprecedented demand, and dealers have raised the prices, which will again decline after the recent public interest in them has been supplanted by future events.
There is Ii broad distinction to be drawn between books which are absolutely rare, and those which are only relatively scarce, or which become temporarily rare, as just explained. Thus, a large share of the books published in the infancy of printing are rare, nearly all which appeared in the quarter century after printing began are very rare; and several among these last are superlatively rare. I may instance the Mazarin Bible of Gutenberg and SchoefIer (1455?) of which only twenty-four copies are known, nearly all in public libraries, where they ought to be; the Mentz Psalter of the same printers, 1457, the first book ever printed with a date; and the first edition of Livy, Rome [1469] the only copy of which printed on vellum is in the British Museum Library.
One reason of the scarcity of books emanating from the presses of the fifteenth century is that of many of them the editions consisted of only two hundred to three hundred copies, of which the large number absorbed in public libraries, or destroyed by use, fire or decay, left very few in the hands of booksellers or private persons. Still, it is a great mistake to infer that all books printed before A. D. 1500 are rare. The editions of many were large, especially after about 1480, many were reprinted in several editions, and of such incunabula copies can even now be picked up on the continent at very low prices.
Contrary to a wide-spread belief, mere age adds very little to the value of any book, and oft-times nothing at all. All librarians are pestered to buy "hundred year old" treatises on theology or philosophy, as dry as the desert of Sahara, on the ground that they are both old and rare, whereas such books, two hundred and even three hundred years old, swarm in unsalable masses on the shelves of London and provincial booksellers at a few pence per volume. The reason that they are comparatively rare in this country is that nobody wants them, and so they do not get imported.
A rare book is, strictly speaking, only one which is found with difficulty, taking into view all the principal book markets of various countries. Very few books printed since 1650 have any peculiar value on account of their age. Of many books, both old and new, the reason of scarcity is that only a few copies actually remain, outside of public libraries, and these last, of course, are not for sale. This scarcity of copies is produced by a great variety of causes, most of which are here noted.

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