Watch List notes:

VATICAN: Benedict XV, 1914-1922, AR medal, ND, Rinaldi-102, 32mm, silver commemorative medal by Calabresi, BENEDICTVS XV PONT. MAX., bust right, wearing zucchetto, mozzetta, and pallium, CALABRESI DEPOSE at lower right // MARIA IMMAC., the Virgin Mary facing right, with extra silver detachable bezel, VF to EF, ex Henry Christensen.

Estimate: 75-100 USD