Watch List notes:

VATICAN: Pius XI, 1922-1939, AE medal, 1924, Rinaldi-118, 32mm, bronze annual medal by Mistruzzi, PIVS XI PONT. MAX. ANNO III, bust right, wearing zucchetto, mozzetta, and pallium // GREGORIANVM ABHINC AN C SOC IESV REST above Pontifical Gregorian University, NOVA SEDE DONATVR MCMXXIV in exergue, AU, ex Henry Christensen. Pius XI laid the first stone of the new seat of the university on 27 December 1924. It was designed by architect Giulio Barluzzi in the Neoclassical style and was completed by 1930.

Estimate: 75-100 USD