Watch List notes:

Italian States, Stato Pontificio (Papal States). Gregory XVI AR Mezzo Scudo (50 Baiocchi). Rome mint, 1845. Niccolo Cerbara, die engraver. GREGORIVS • XVI • PON • MAX • A • XV, bust to left, wearing zucchetto, mozzetta and embroidered stole; mintmark and die-engraver's initials below / Denomination and date in three lines; all within laurel wreath. MIR 3105/9; Muntoni 9d; Berman 3286. 13.39g, 32mm, 6h.

Extremely Fine.