Watch List notes:

ITALY, Papal (Papal State). Pius IX. 1846-1878. Æ Medal (43mm, 40.38 g, 12h). On the Opening of the Rome to Tusculum Railroad. By I. Bianchi. Dually dated RY 11 and 1856 (in Roman numerals). PIVS · IX · PONT · MAX · ANNO XI ·, bust left, wearing zucchetto, mozzetta, and stole; I ·BIANCHI below / NON · IVL ·/AN · CHR · MDCCCLVI ·/PIO IX · P · M · AVCTORE/IN DITIONE PONTIFICIA/FERREAE VIAE COMMODITAS/ROMA TVSCVLVM/PRIMVM INDVCTA/(ornamental spacer)/S · P · Q · T · in nine lines; rosette above and below. See Rauch 86, lot 2678 (for another example). Brown surfaces, field marks. Good VF.

From the Peter Napoli Collection.