Watch List notes:

WORLD, Italy. Papale (Stato pontificio). Alexander VI. 1492-1503. PB Seal – Bulla (38mm, 38.00 g, 12h). Heads of Ss. Paul and Peter facing slightly right and left, respectively; between, cross surmounted by globe and set on long base; S S/ P P/ A E above / ALEX/ANDER/ • PP VI (Ω over PP). Serafini 67. Minor roughness. Near VF.

From the Peter J. Merani Collection, purchased from Goldberg's.