Watch List notes:

Italy, Vatican, Paul III (1468-1534-1549), Alessandro Farnese, restrike bronze 'mule' medal, obv. year 16 (1549), by Alessandro Cesati, bust r. in cap and cope, rev. by Lorenzo Fragni called Parmense, seated figure of Rome amidst a pile of military trophies and holding a dragon, TVTVM REGIMEN - ROMA, 34.5mm. (Linc.501/689), extremely fine
The medal's reverse, first struck during the Papacy of Gregory XIII (1572-85), alluded to the actions taken against the Mediterranean pirates and the strengthening of the fortifications at Ancona.
(80-120 GBP)