An obsolete Papal silver coin which obtained its name from Pope Paul III, in whose reign it was originally issued to replace the older Giulio (q.v.).
In the sixteenth century it was also coined in the Duchy of Ferrara, and later by the Dukes of Tuscany, and in Modena.
Ten Paoli were equal to one Scudo, andthe Paolo of Tuscany was the fifth of a silver Florin. Conf. also San Paolo and Paul.
Source: Frey's Dictionary (American Journal of Numismatics, Vol. 50, 1916)