@panzerman as always, you don't disappoint! I know nothing about coins from this era, but, for now, I'm with you, it's a work of art!
Nicest thing about this coin, I bought it as an "unsold" lot from Ranieri Auction. I compared it to a slabbed MS-65/ found mine is nicer/ but paid one third the price.
I'm assuming the change in surface texture is a mount repair from 12 to 1 o'clock? Otherwise I can't see any reason why it should go unsold because the detail is good and to my mind should be a buy as it has eye appeal in spades. To subsequently purchase it for 1/3 price of a slabbed 65 says something isn't quite right. It wouldn't be the first decent coin in this world with an impairment that looked better than the 'best known'.
The coin in actual hand (flip) looks way more perfect, the photo is not the best. I always look at my stuff with 10X magification/ that coin has no flaws/ perfect strike for a hammered coin. Ranieri grade their coins very strict. I saw one from Carlo II from Varesi Auctions/ even better.You very sledom see Medieval coins with complete 100 percent solid strikes. The later Spanish gold from Milan/ Naples was terrible quality. John