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 Small Date is approximately twice as rare as the Large Date (according to the PCGS Population Report). In Mint State, the Large Date is most readily available in MS64. Gems are very rare. Red-Brown examples represent less than a tenth of the total Mint State population and full Red examples are very, very rare.