Watch List notes:

ITALY. Papal States. Pio IX (3rd period), 1846-1878. 20 Lire 1867-R, ANNO XXII (Gold, 21.54 mm, 6.41 g). Rome, engraver Carl Friedrich Voigt. PIVS IX PON· MAX·A·XXII Bust of Pius IX to left. Rev. * STATO * PONTIFICIO * Crown, in the center in three lines: 20/ LIRE/ 1867; in exergue R (workshop). Pagani 531. KM 1382. Friedberg 280. Toffanin 3162/5. Gigante 268. Minor surface scratches, otherwise, Very Fine.