Watch List notes:

WORLD, Italy. Papale (Stato pontificio). Paul II. 1464-1471. PB Bulla (38mm, 50.66 g, 6h). · PAVLVS ·/PP · II ·, Paul seated right on ornate throne, wearing miter and mantum; cardinal to leach side; to right, seven faithful worshipers kneeling left / Sts. Paul, holding sword, and Peter, holding keys and Gospel book, seated facing one another on thrones, both wearing nimbus crown and robe; between, ·S/P/A/V and S·/P/E/T in two vertical lines; cruciform stand below. Serafini 172-5. Near EF. Well struck and exceptional, with traces of original yellow cord.

From the Peter J. Merani Collection. Ex Classical Numismatic Group 88 (14 September 2011), lot 2003 (hammer $1900).