Watch List notes:

ITALIAN REPUBLIC: Napoleon I, 1802-1805, Scudo da 5 Lire (20.09g), AN II (1803)-M, as KM-Pn8, as Davenport-200, Pagani Prove 437, Crippa-5, 38mm lead pattern of unadopted type for the short-lived Italian Republic, cadaceus with grapes to left and star to right with AGRICOLTURA E COMMERCIO around and ANNO II below // "SCUDO / DA / LIRE / 5" within grain wreath with "REPUBLICA ITALIANA - C.19,275" around, multiple scratches, rim nicks, and scuffs, plain edge, EF, R4 (Pagani), ex Baldwin's of St. James Auction 58, Lot 293; ex inAsta Auction 43, Lot 3434. Crippa cites examples in lead or tin like this one. Unlike the Cisalpine Republic, the Italian Republic did not produce any silver currency intended for circulation. This pattern demonstrates the move towards a decimal coinage, being a scudo of 5 lire and no longer the 6 lire of the Cisalpine Republic. The Italian Republic was converted to the Kingdom of Italy in 1805.

Estimate: 375-475 USD