Watch List notes:

ITALY. Stato Pontificio. Paolo III, 1534-1549. ½ Scudo ND, Parma. Obv. PAVLVLS III - PONT MAX. Coat or arms. Rev. FIAT PAX I VIRTVTI TVA. Cross with letters P-A-R-M in quarters. Muntoni 159; Fr. 413. AU. 1.69 g. - XF-AU edge mark
Ex. Kunker auction 92, 22 June 2004, lot 95.
Extremely rare.