Ron Guth:
1857 was the year in which the Large Cent was replaced with the new-fangled, Flying Eagle Small Cent. For some reason, 1857 Large Cents were made with either large or small dates. Both types are plentiful, but the Large Date is approximately twice as common as the Small Date (according to the PCGS Population Report). In Mint State, the Large Date is most readily available in MS63, with slightly smaller populations in MS64 and MS62. Gems are very rare and none are known above MS65. Red-Brown examples represent a tenth of the total Mint State population and full Red examples are very, very rare.