Watch List notes:

Italian States, Stato Pontificio (Papal States). Pius IX Æ Mezzo Baiocco. Rome mint, 1848. Niccolo Cerbara, die engraver. PIVS • IX • PON • MAX • ANN • III, coat-of-arms in polygonal frame surmounted by crossed keys and triple crown; branch to either side, die-engraver's initials below / Denomination and date in three lines, mintmark in exergue; all within laurel wreath. MIR 3123/10; Muntoni 34b; Berman 3327. 5.10g, 24mm, 6h.

Very Fine.