Watch List notes:

WORLD, Italy. Papale (Stato pontificio). Pius IV. 1559-1565. PB Seal – Bulla (35mm, 45.85 g, 12h). Heads of Ss. Paul and Peter facing slightly right and left, respectively; plain cross between; [S S]/ P P/ A E above / • PIVS •/ • PAPA •/ IIII. Serafini 249-51. Gray porosity, portions of original cord. Near Fine.

From the Peter J. Merani Collection. Ex Artemide Aste 47 (3 June 2017), lot 701.