Watch List notes:

WORLD, Italy. Papale (prigioniero del Vaticano). Leo XIII. 1878-1903. PB Seal – Bulla (47mm, 76.72 g, 12h). Heads of Ss. Paul and Peter facing slightly right and left, respectively; plain cross between; S P/ S P above / (radiant cross)/ LEO/ PAPA/ XIII; all within wreath. Serafini 526-7. Pale gray surfaces, significant portions of original cord. VF.

From the Peter J. Merani Collection. Ex Artemide Aste 28 (10 April 2010), lot 1725.