Interesting question! The dictionary defines "rare" as not widely known or found, valued for its uncommonness. However, I think when most of us think of rare we think of a much more restrictive definition such that a rare card is one that a collector will only have an opportunity to acquire, cost aside, at a few points in their life. By the dictionary definition the T206 Wagner is indeed rare; it is not widely found. I haven't found any recently. However, by the way I think most of us in the hobby think of rare, the Wagner is not rare; if you had the money you would have the opportunity to bid for one several times a year. I think the rarity scale that Barry mentioned is the best way of handling rarity.
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