Question: Shure Unidyne III 545L ?

The Shure 545 is NOT the same as an SM 57, to start with the 545 has a copper voice coil. Many old school engineers actually favor the 545. They certainly sound different on snare drum and guitar.

I agree with those old school engineers. The SM5x series sounds a lot muddier to me.
 
I picked one of those up the other day (coincidentally the day this thread started) - still haven't really used it (I've mostly been cleaning it :) ), but today I was holding it up to my son's bagpipes [with *major* headphone isolation going on], and it sounded great.
 
The Shure 545 is NOT the same as an SM 57, to start with the 545 has a copper voice coil. Many old school engineers actually favor the 545. They certainly sound different on snare drum and guitar.

The SM57 also has a copper voice coil. It is very similar to the 545, but not identical.

The original 545 was introduced in 1960, and there have been over a dozen variations over the years: different connectors, switch/no switch, mount, etc. The 545L was a bit unique in that it had a shorter body and no transformer, and was only capable of low impedance operation. All other 545 models had a transformer and were switchable between low and high impedance operation. Also, the small diameter cable was hardwired in; I believe any connectors at the end of the cable were added after purchase.

http://cdn.shure.com/user_guide/upload/466/us_pro_545l_ug.pdf

At any rate, the biggest functional difference between other 545 models (and the SM57) is the lack of transformer.
 
And to address the OP:

Can these Mics be modified and fitted with an XLR plug or even a 1/4" stereo plug to make them a three wire Mic and more useful? Are they OK wired as the are?

Are these Mics any good and for what application?
What would they be worth if sold?

See the data sheet above for wiring information. It is designed for balanced operation.

The 545 (as with the SM57) is a pretty standard all-purpose mic. The 545L is likely fairly rare in studio use, but you should be able to use it wherever you would use an SM57.

The prices I've seen lately for older 545 mics has varied considerably, but a broad range would probably be $35-$125. Sometimes "vintage" gets people excited, but they were pretty common. The 545L version isn't quite so common, but I'm not sure many people are looking for that particular variation.
 
That's the benefit/disadvantage of a good search function, and on most forums people get really stressed and post "USE THE SEARCH" - yet when they do, it always gets this response. However, for new members like me, there's no way I could read everything, so seeing these old ones is interesting - it's also nice that talk of an old loved mic is still relevant another 11 years on, isn't it, with 545s becoming quite sought after. The reality is that they look a lot nicer in the satin finish rather than charcoal black, and I reckon most people like the look more than the sound. Personally, the 565 was the best looking, with chromed mesh grill - they looked great.
 
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