US quarter dollars issued through 1964 were 90% silver. Quarters issued from 1965 onward (except for some proof coins made for collectors) contain no silver.
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Pre-1965 US quarters are 90% silver with a value of about $2.50 just for the silver.
Quarters minted after 1965 do not contain silver. Only pre-1965 were struck with a certain percent of sliver.
They aren't rare, they are, however 90% silver and worth a bit over $5 each at the time of writing in silver content alone. Many, many, many, pre-1965 quarters were made but simply the fact they were made out of silver is what makes them valuable. Now, there are, of course, some rare years of silver quarters, but there are also very common dates (like 1964).
The weights of pre-1965 silver coins are as follows. Dimes: 2.5 grams. Quarters: 6.25 grams. Half dollars: 12.5 grams. Silver dollars: 26.73 grams.
Yes, the reason why quarters (and dimes, and half dollars) dated 1964 and earlier are worth more than their 1965 and later coins is because they are 90% silver.