The Statue of Liberty’s disembodied arm stood in Madison Square from 1876 to 1882. It had been agreed that Frédéric Bartholdi would create the statue while the United States paid for the pedestal. Americans were a bit behind in offering donations, so Bartholdi sent along the arm and torch to help inspire contributions. It took six years of benefit concerts, auctions, souvenir photos, and other mementos, but the full statue was finally dedicated on Liberty Island on October 28, 1886.
via Futility Closet
Also, I learned that the structure holding up the various pieces of the statue was designed by a guy named Gustave Eiffel, who later built a pretty famous tower in Paris. And the arm of the statue was damaged in a massive explosion at a munitions depot on nearby Black Tom Island in 1916 — an explosion that much later was proven to be an act of sabotage by German secret agents.