Ron Guth:
The 1854-O Dime has an even larger mintage than that of the 1853-O, yet it also has the second smallest mintage of the With Arrows type. Nonetheless, Mint State 1854-O Dimes can be found with relative ease (usually in MS63 to MS64). Gems are rare, particularly above MS65. The finest examples are some NGC MS67's.
Researcher Gerry Fortin has identified twelve different die varieties for this year. One of the more interesting varieties is Fortin-106, which features a heavily shattered obverse die (this die could not have lasted very long, thus making the Fortin-106 variety very rare).