Altobello Averoldo (ca. 1465-1531), born in Brescia, was named bishop of Pola in 1497 and was apostolic legate to Venice from 1517 to 1521 and again from 1526 to 1530. The existence of another medal of Averoldo noting his second tenure as legate has led to this medal being dated to his first tenure in that role. The attribution of the medal to Olivieri is based on similarity in design and inscriptions to candlesticks Olivieri made for Saint Mark's Basilica in Venice.

The scene on the reverse is somewhat ambiguous, as it can be viewed as two men removing a veil from Truth, or as two men trying to veil a resistant Truth. In either case, as made clear by the reverse inscription, Truth is revealed. Two events in 1518 have been suggested as possible inspirations for this reverse design. First, Averoldo served as head of a commission investigating the burnings of suspected witches in Valcamonica. Second, Averoldo secured the banishment of Count Camillo Martinengo from Brescia in response to the count's raping of a ten-year-old girl, thus vindicating the honor of the girl's family.