Should APIs use 404 as an error code?

The humble 404 error, so familiar on the web, is a problem for an API

Ever since I was first introduced to a web browser, I was familiar with the 404 error. It’s the first thing you learn, the first error code you find — because pretty much everyone makes spelling mistakes from time to time.

The definition of the 404 error can be traced back to the earliest web standards including RFC 1945, which is part of the IETF’s standards process. Seems authoritative.