| I. Fructification not stipitate, more or less plasmodiocarpous. |
| | 1. Peridium simple. |
| | | a. Calcareous deposits yellow | 1. P. serpula |
| | | b. Calcareous deposits reddish or orange | 2. P. lateritium |
| | | c. Calcareous deposits white, peridium rugulose | 3. P. vernum |
| | 2. Peridium double. |
| | | a. Fructification flatly compressed | 4. P. sinuosum |
| | | b. Fructification less compressed, rounded. |
| | | | i. Outer peridium white | 5. P. bitectum |
| | | | ii. Outer peridium brown or brown-tinged | 6. P. bogoriense |
| | | | iii. Outer peridium yellow; capillitium yellow | 7. P. alpinum |
| II. Fructification of sporangia more or less distinct. |
| | A. Sporangia sessile, globose, ovoid, reniform, etc. |
| | | 1. Peridium double. |
| | | | a. Sporangia white, peridium testaceous. | 8. P. diderma |
| | | | b. Sporangia tinged with yellow. |
| | | | | i. Sporangia as if interwoven, compressed | 9. P. contextum |
| | | | | ii. Sporangia more nearly free, distinct. |
| | | | | | o Spores pale, inner peridium brittle | 10. P. conglomeratum |
| | | | | | oo Spores spinulose, dark violet | 11. P. mortoni |
| | | | c. Sporangia brown, dehiscence revolute | 12. P. brunneolum |
| | | 2. Peridium simple, calcareous, flaky. |
| | | | a. Sporangia grey, plasmodiocarpous; spores dusky, 10–12 forms of 3 |
| | | | b. Sporangia grey, more or less dense; spores violet, 6–7 | 13. P. cinereum |
| | | | c. Calcareous deposits yellow or greenish, spores 7–9 | 14. P. virescens |
| | | | d. Sporangia rusty or reddish brown, more or less dense | 15. P. rubiginosum |
| | | | e. Sporangia minute, lignicolous, the fructification much extended upon a hypothallus, lime deposit tawny | 16. P. instratum |
| | | | f. Sporangia white, depressed, annulate, sometimes with short stipes | 17. P. megalosporum |
| | | 3. Peridium simple, not flaky, small .2–.3 mm., heaped | 18. P. confertum |
| | B. Sporangia, at least some of them, stipitate. |
| | | a. Sporangia columellate. |
| | | | i. Columella small, usually conical. |
| | | | O Sporangium yellow. |
| | | | | o Columella white | 19. P. melleum |
| | | | | oo Columella yellow | 20. P. citrinum |
| | | | OO Sporangium not yellow. |
| | | | | o Capillitial mass persistent. |
| | | | | | + Sporangia globose, pallid or white | 21. P. globuliferum |
| | | | | | ++ Sporangia blue or lilac, rose, etc. | 22. P. lilacinum |
| | | | | | +++ Sporangia drab or brownish | 23. P. murinum |
| | | | | | ++++ Sporangia wine-red | 24. P. pulcherrimum |
| | | | | oo Capillitial-mass less persistent; orange | 25. P. pulcherripes |
| | | | ii. Columella long, 4–5 the sporangium non-calcareous. | 26. P. penetrale |
| | | | iii. Columella large globose | 27. P. luteo-album |
| | | b. Sporangia without columella. |
| | | | i. Sporangia nucleate, calcareous at center. |
| | | | | O Stipe yellow | 28. P. nucleatum |
| | | | | OO Stipe white | 29. P. wingatense |
| | | | ii. Sporangia non-nucleate. |
| | | | | O Sporangia purple | 30. P. newtoni |
| | | | | OO Sporangia blue, spotted with red | 31. P. psittacinum |
| | | | | OOO Grey or white, iridescent betimes. |
| | | | | | o Sporangia white, discoidal; stipe yellow | 32. P. discoidale |
| | | | | | oo Sporangia lightly calcareous, iridescent, sub-globose, diam. about = to the stout, brown, slightly wrinkled stipe | 33. P. leucophaeum |
| | | | | | ooo Sporangia globose or sub-globose. |
| | | | | | | x. Small, .5 mm. |
| | | | | | | | + Stipe erect, clear brown | 34. P. nodulosum |
| | | | | | | | ++ Stipe weak, yellow, stuffed | 35. P. maculatum |
| | | | | | | xx. Larger, lime-capped; stipe strand-like | 36. P. didermoides |
| | | | | | | xxx. Stipe snow-white, fragile | 37. P. leucopus |
| | | | | | | xxxx. Stipe generally distinctly fluted |
| | | | | | | | + Sporangia laterally compressed, fan-shaped | 38. P. compressum |
| | | | | | | | ++ Sporangia typically globose, umbilicate below, connate, etc., strongly calcareous | 39. P. notabile |
| | | | | | | | +++ Sporangia reniform, concave below P. affine, see under 38 |
| | | | | | | | ++++ Sporangia larger, to 1 mm., nearly limeless, iridescent | 40. P. tropicale |
| | | | | | oooo Sporangia obovate, compound, clustered, the stipe fuscous, fluted, short. | 41. P. nicaraguense |
| | | | | OOOO Sporangia yellow, rarely iridescent or brown. |
| | | | | | o Capillitial nodes white. |
| | | | | | | x. Stipe also white | 42. P. sulphureum |
| | | | | | | xx. Stipe flesh-colored, spores smaller | 43. P. carneum |
| | | | | | | xxx. Stipe red or reddish brown | 44. P. citrinellum |
| | | | | | | xxxx. Stipe yellowish, flaccid, sporangia leocarpine | 45. P. albescens |
| | | | | | | xxxxx. Stipe very short or none, sporangia cylindric, brown | 46. P. variabile |
| | | | | | oo Capillitium nodes yellow or orange-yellow. |
| | | | | | | x. Badhamioid, larger,—to .8 mm. | 47. P. auriscalpium |
| | | | | | | xx. Physaroid, base persistent | 48. P. oblatum |
| | | | | | ooo Capillitium nodes pure yellow. |
| | | | | | | x. Capillitial threads yellow | 49. P. galbeum |
| | | | | | | xx. Capillitial threads hyaline | 50. P. tenerum |
| | | | | | | xxx. Peridium iridescent. |
| | | | | | | | + Capillitium persistent | 51. P. flavicomum |
| | | | | | | | ++ Capillitium less persistent, larger | 52. P. bethelii |