If we except the death mask, no contemporary portrait of Lorenzo survives. This terracotta bust, a copy from a model by Andrea del Verrocchio and Orsino Benintendi, comes probably closest to his lifetimes, however, some elements betray decisive elements to characterize Lorenzo as a great statesman, 'caring' for the respublica, emulating the frontal furrow as to be found on classical portraits of Octavianus Augustus.
(Cf. A. Luchs: Lorenzo from Life? Renaissance Portrait Busts of Lorenzo de' Medici, in: The Sculpture Journal 4 (2000), S. 6–23).
Lorenzo de' Medici, sculpture, 1478/1521, painted terracotta, 65.8 x 59.1 x 32.7 cm, probably after a model by Andrea del Verrocchio and Orsino Benintendi; source: National Gallery of Art, Washington D.C., Samuel H. Kress Collection, Accession No. 1943.4.92, open access.