New countries come and go all the time because they change their names, therefore flags change all the time... every state or province has a flag within their county, sports teams, schools, organizations, societies and so on... if your asking about flags in general, there could be billions... I myself have four and I'm only one out of how many millions of North Americans...
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There are 30 flags on the Commissioner's Trophy. Each flag represents one of the 30 Major League Baseball teams.