Watch List notes:

WORLD, Italy. Papale (prigioniero del Vaticano). Pius X. 1903-1914. PB Seal – Bulla with attached document. Heads of Ss. Paul and Peter facing slightly right and left, respectively; plain cross between; S P/ S P above / (radiant cross)/ PIVS/ PAPA/ X; all within wreath. Serafini 1-2. Bulla EF.

From the Peter J. Merani Collection. Ex Artemide Aste 25 (2 July 2009), lot 1982.