Watch List notes:

Italy, Napoli (Regno). Filippo II di Spagna. A.D. 1554-1598. AR mezzi carlino (18 mm, 1.29 g, 11 h). Second Period. Napoli (Naples) mint, Struck A.D. 1591-1594. Marco Antonio de Leo, mintmaster; Gespare Giuno, trial master. Radiate bust right, slight drapery on shoulder; •(MAL)•/(CI) below bust / Pietra focaia and acciarini (insignia of the Order of the Golden Fleece) surrounded by flames. Cf. CNI XX 1357 (for type); cf. Pannuti-Riccio 46e (same); MIR 186/5. VF, toned, obverse struck with worn die. 

Ex Archer M. Huntington Collection; Ex Hispanic Society of America; Ex ANS (HSA 1001.1.18362).