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An 'S' Mintmark means that the coin was struck at the San Fransisco mint. It depends on the coin, but yes, often times it is rarer than a coin struck at the Philadelphia (P) or Denver (D) mint. A lot of US silver coins were struck at San Fransisco for circulation, but most modern coins that are struck at San Fransisco have not been intended for circulation and as such are worth much more than their business strike counterparts, even with silver coins San Fransisco usually has the lowest mintage of the 3 main mints.

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