Watch List notes:

Italian States, Stato Pontificio (Papal States). Pius VI AR 25 Baiocchi. Rome mint, 1796. Tommaso Mercandetti, die-engraver. PIVS • SEXTVS • PON • MAXIMVS • ANNO • XXII, large crossed keys with circular ends and triple crown; die-engraver's initials below / Denomination and date in four lines within wreath of two thin stems with flowers at end; die-engraver's initials below. MIR 2778/4; Muntoni 70a; Berman 2975. 7.13g, 32mm, 12h.

Very Fine.