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The Glowing Yellow was obtainable by reaching level 20 on the police team in OG Season 2. Alongside that you needed to buy it for 5k cash.
Supply is widely distributed — no single holder owns enough to register as a hoarder.
Glowing Yellow with a MU of only ~94, it has a similar MU than Earth (~83) and Hotdog (~90), both of which are Very Rare. In conclusion, you just almost never see this item with most traders not even knowing this exists. Putting it at very rare makes its rarity more accurate and up to date. Suggestion made by: @justice4zero