Watch List notes:

Stato Pontificio, Paolo IV (1555-1559), Giulio, Roma; AR (g 3,24; mm 27; h 1); PAVLVS IIII PONT MAX, coat surmounted by decussed keys and thiara, Rv. S PAVLVS ALMA ROM-A, S. Paolo standing facing, holding sword and book. Muntoni 15; CNI 111.
Lustrous. Very fine