Watch List notes:

WORLD, Italy. Papale (Stato pontificio). Gregory XVI. 1831-1846. PB Seal – Bulla (46mm, 73.54 g, 12h). Heads of Ss. Paul and Peter facing slightly right and left, respectively; plain cross between; S P/ S P above / (radiant cross)/ GREGORIVS/ PAPA/ XVI; all within wreath. Serafini 309-11. Areas of corrosion. VF.

From the Peter J. Merani Collection. Ex Artemide Aste 1G, lot 1648.