I must say that this is a very interesting item. I have a few questions, @Virghil
1. How do you know that it is Italian? 2. What kind of a search did you do?
I would be inclined to do a google search on the inscriptions-but maybe you did that already.
A comment:
The medal may not have been made in 1603-the date might refer to the date of the founding/making of the building. However, it certainly has an old style to it.
The building does look the frontage of St. Peter's Basilica with its row of saints along the top edge. In this photo of the Basilica, taken in the Vatican in 2000, the upper floor does seem to be an addition so possibly added after the medal was produced. Just a suggestion.
So yeah, it's 1603, not 1602, it was a typo. I searched on coinarchives and on google images with parts of the inscription I was able to read, but nothing. I thought it was Italian because it's similar in style to other Italian medals I had from the same period, it has SPQR written on it and the inscriptions are Latin.
I could not find anything by searching those inscriptions.
However, I did find this reference to the initials:
"SPQR are the initials of a Latin phrase Senatus Populusque Romanus. It means "The Roman Senate and People" or "The Senate and People of Rome". It refers to the government of the ancient Roman Republic."
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