This wax portrait depicting Holy Roman Emperor Charles V was likely copied from a bronze medal that Leone Leoni created in 1549. The image is in keeping with the classical iconography which Leoni developed for Charles V, framing him as an armored and laurel-wreathed successor to the Roman emperors.

Leoni lived a colorful life; he at one time served as a galley slave on a ship but later became a celebrated sculptor in the court of Charles V, who elevated him to knighthood. He worked in several court mints over the course of his career and was a skilled medal sculptor.