Watch List notes:

ITALY. Papal States. Honorius III (Cencio Savelli), 1216-1227. Seal or Bulla (Lead, 42.5 mm, 48.77 g, 12 h), Rome. S PA S PE Nimbate facing heads of St. Paul, bald and with a long, linear beard, on the left and St. Peter, with curly hair and beard composed of pellets, on the right; between them, Latin cross on a long staff and base; all within a circular, dotted border . Rev. HONO/RIVS/ •PP• III• in three lines, the whole within simple round dotted border. Serafini 1-3. Scarce; well centered on a broad flan. Discoloration of patina on area over cord channel, otherwise, very fine.

From the Dr. Pelc Dens Sapientiae Collection, USA, ex Kunst & Münzen (unnamed sale), 1492.