Watch List notes:

(x) Italy, Vittorio Emanuele III (1900-1946), Gold 20-Lire, 1923 R, Rome, 'Anniversary of the Fascist March on Rome, 22 October 1922', bare head left, rev. fasces and battle axe, edge milled, 6.45g, 7h (Cud. 1240a; MIR.1127a; Pag. 670; KM 64; Fb. 31), some bagmarks on neck, otherwise lustrous, near extremely fine, a commemorative type celebrating the rise of Benedetto Mussolini

Provenance
The George Webber Collection of World Gold Coins
Adolph Hess (Lucerne), Sale 243, 3-4 April 1974, lot 791 - FDC - CHF5,060 [£740]