Watch List notes:

WORLD, Italy. Papale (Stato pontificio). Pius VII. 1800-1823. PB Seal – Bulla (39mm, 55.48 g, 12h). Heads of Ss. Paul and Peter facing slightly right and left, respectively; plain cross between; S P/ S P above / (radiant cross)/ PIVS/ PAPA/ VII; all within wreath. Serafini 160-3. VF.

From the Peter J. Merani Collection. Ex Artemide Aste Antiquities 4 (19 March 2016), lot 168.