David Akers (1975/88): This date is very scarce in any condition and is almost unobtainable better than EF. Only the 1855-S had fewer combined auction records in AU and Unc. In fact, the 1857-S had the 10th lowest total number of auction records in our 238 catalogue auction survey in the entire series and the fifth (sixth if one counts the 1873 Closed 3) lowest number among the regular issues. This is one of four regularly issued dates in the series of which I have never seen a mint state specimen. (The 1854-D, 1855-S, and 1860-S are the other three.) I have, however, seen two AU50 pieces and one AU55 in addition to a small number of EF's. The vast majority of known specimens are VF or less as evidenced by the fact that 53 out of 79 auction records in our auction survey are for low grade pieces. Overall, this scarce and underrated date tied for first in the entire series according to rarity by average grade.
Dorothy Gershenson Collection, sold privately - Great Lakes Collection - Hanks & Associates, sold privately as an entire collection in 10/2005 - D. Brent Pogue Collection - Stack's/Bowers & Sotheby's 2/2016:3097, $76,375