Watch List notes:

Italy, Pavia, Ugo di Arles re d'Italia, 926-947, con Lotario II, 931-947, Denaro, 926-947; AR (g 1,58; mm 18; h 9); +VGOLOHTARIV Monogr. of Ugo. Rv. + XPIITIANA REL around PA / PIA. MEC 1., 1025; MIR 824.
Very rare, old cabinet tone, for the typology, about extremely fine.