The Model 545 was introduced in 1959 by Shure Brothers Inc. The basic design and characteristics of the 545 would later be used in the SM57, but soundwise the 545s tend to have a more refined and detailed sound.
It is said that the reason the early USA-made Shure mics have a little more definition is due to the voice coil being copper as opposed to aluminium, as well as the original dies/moulds being used at the factory. Variants of the 545 were used by the Beach Boys and the Beatles. This mic will hold its own against any good dynamic or condenser when using a great console/preamp, good cable and sound source. 100% feedback, never lower in 20 years.