Watch List notes:

WORLD, Italy. Papale (Stato pontificio). Alexander III. 1159-1181. PB Seal – Bulla (38mm, 50.68 g, 12h). Bare heads of Sts. Paul and Peter, facing slightly right and left, respectively, each within beaded halo; cruciform scepter between: S PA S PE above / ALEX/ANDER/ • PP • III • (Ω over PP). Serafini 1-4. Dig on obverse, minor deposits. VF.

From the Peter J. Merani Collection. Ex Artemide Aste 47 (3 June 2017), lot 664.