Watch List notes:

OTTOMANS IN ARABIA: Mahmud I, 1730-1754, AE rectangular fals (1.33g), NM, AH11(65), A-A1129, sultan is cited on obverse by the title al-'izzat li-mahmud, "glory to Mahmud", sana plus date together with a very coarsely engraved lion on the obverse, probably struck at 'Ar'ar, now in northern Saudi Arabia near the Iraqi border, VF-EF, RRR. Date confirmed by die-link to Stephen Album Auction 15, Lot 320. This is possibly the best known specimen.

Estimate: 220-300 USD