Francesco Sassetti was the director general of the Medici bank in Florence from 1459 to 1490. When the cast was purchased in 1890, the original was thought to be by Benedetto da Maiano (1442-1497), and has since been ascribed to Antonio Rossellino but there is no firm basis for either attribution. This type of portrait, depicting the sitter in classicizing costume based on Roman portrait busts, became popular in Florence during the 15th century. The plaster cast was supplied by Oronzio Lelli, one of the most important plaster cast manufacturers in Florence in the last 19th century.

Plaster casts were especially sought after during the 19th century, when reproductions of great works of sculpture and architecture were thought crucial for the training of artists. A separating substance was applied to the surface of the work to be reproduced, and a plaster mould made from that. The mould would then be used to make any number of additional plaster copies. These were often sold to artists, and later in the century to art colleges for study purposes.