Watch List notes:

ITALY, Papal (Papal State). Pius IX. 1846-1878. Æ Medal (61mm, 99.34 g, 12h). Twenty-Fifth Anniversary. By Galli and Speranza. Dated 1871 (in Roman numerals). PIVS · IX · PON · MAX ·, Pius enthroned facing on the Throne of St. Peter supported by four Doctors of the Church; Virgin Mary and St. Peter to left and right; the Trinity in clouds above; PRIMVS IN ROMANA SEDE/PETRI · ANNOS · EXPLEVIT/ MDCCCLXXI in three lines in exergue / Pius, holding Gospels and keys, enthroned facing on the Throne of St. Peter set on steps; the Five Continents kneeling around; Dove of the Holy Spirit above; GALLI · INV · and SPERANZA on lowest step; LAETAMINI · IN · DOMINO/QVIA · DEDIT · VOBIS/DOCTOREM · IVST ·/JOEL · 11 · 23 · in four lines in exergue. Bartolotti XXIV, 12. Brown surfaces, areas of green deposits and active corrosion. Good VF.

From the Peter Napoli Collection.