Watch List notes:

ITALY, Papale (prigioniero del Vaticano). Pius XI. 1922-1939. Æ Box Medal (46mm, 8.70 g). Holy Year issue. Dated 1925 (in Roman numerals). Bust left, wearing zucchetto, mozzetta, and pallium / Porta Sancta; pick to left, trowel to right. Inside, fifteen photograph of landmarks in Rome. Brown surfaces. As Issued. The photo strip separated in one spot.

From the Peter J. Merani Collection, purchased from Donald Young.