In large bowl, with mixer on medium speed, beat 1 cup butter and sugar until smooth. Add egg yolk, liqueur, and orange peel and beat until well blended.
In another bowl, mix 2 cups flour, baking powder, and salt. Add to butter mixture; stir to mix, and then beat until well blended. Gather dough into a ball, divide in half, and flatten each portion into a disk; wrap each rightly in plastic wrap and freeze until firm enough to roll without sticking, about 30 minutes.
Unwrap dough. on lightly floured surface, with a floured rolling pin, roll one disk at a time to about ¼-inch thick. With a floured, 2-inch round cutter, cut out cookies. Place about 2 inches apart on buttered cookie sheet.
In a small bowl, beat egg white with 1 tsp. water to blend. Brush cookies with mixture and sprinkle or arrange about ½ tsp. sliced almonds on each.
Bake in a 325°F regular or convection oven until lightly browned, about 15 minutes. If baking 2 sheets at once in one oven, switch their positions halfway through cooking. Let cookies cool on sheets 5 minutes and then transfer to rack.
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