Italy
Lombardy-Venetia. Republic Specimen 5 Lire 1848-M SP63 NGC, Milan mint, cf. KM-C22.1 (unrecorded in Specimen), Dav-206, Gig-3a. Short stems variety with distant star and thin baseline. A genuinely unusual phenomenon among the early 19th-century coinage of Italy, as though Proofs and specimens are not unknown--there are currently 9 in NGC's census for the whole of Italy during this period--they only very rarely come to market. Indeed, the preservation of the present coin leaves little doubt to its special status, the devices executed in sharp relief against mildly reflective fields. Of the highest rarity, and worthy of close bidder inspection.
Ex. Heritage Auction #410 (June 2006, Lot 14108)
https://coins.ha.com/itm/italy/italy-lombardy-venetia-republic-specimen-5-lire-1848-m-sp63-ngc-/a/3089-30117.s?type=CoinArchives3089
HID02906262019
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Estimate: 1800-2200 USD