1 Giulio - Clement XI St. Peter - seated

Clement XI's pontificate was consumed by the War of the Spanish Succession, during which imperial troops occupied large portions of the Papal States after the Pope's ill-fated recognition of Philip V. The 1714 issue falls in the final stretch of that conflict, the year the Peace of Baden was signed — a settlement in which the papacy had no meaningful voice despite having been drawn into the war's politics at enormous territorial and financial cost.

The giulio denomination itself dates to the reign of Julius II, whose name it carries.