The coalescence rate of two neutron stars (NS) is revisited. For estimation of the number of bound NS-NS and the probability of their coalescence in a timescale $\tau$, the galactic star formation history, directly derived from observations, and the evolution of massive stars are considered. The newly established galactic merging rate is $(1.7\pm 1.0) \times 10^{-5} yr^{-1}$, while the local merging rate, including the contribution of elliptical galaxies, is about a factor of two higher, $3.4 \times 10^{-5} yr^{-1}$. Using the present data basis on galaxy distribution in the local universe and the expected sensitivity of the first generation of laser beam interferometers, we estimate that one event should occur every 125 years for LIGO and ...