Watch List notes:

Italy, Papal States (Stato pontificio), Paul III, (1534-1549), gold scudo (3.26 g), Parma mint, obv. Coat-of-arms surmounted by crossed keys and tiara, rev. Athena seated left on cuirass, holding Victory. (Muntoni 157; Berman 957; Friedberg 412 [Vatican]). Crinkled, nearly very fine and rare.
($450-500)