Watch List notes:

WORLD, Italy. Papale (Stato pontificio). Pius III. 1503. PB Seal – Bulla (38mm, 70.48 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 / * PIVS */ * PA•PA */ * III *. Serafini 2. Spot of red deposits, traces of cord. Good VF. Rare bulla of the shortest Papal reign.

From the Peter J. Merani Collection. Ex Artemide Aste 37 (8 December 2012), lot 374.