Watch List notes:

KHWARIZMSHAH: Muhammad, 1200-1220, AR broad dirham (8.61g), MM, DM, A-1722, 46mm, obverse in plain circle, royal text for Muhammad b. Tekesh // square within diamond within circle, citing the caliph al-Nasir li-din Allah in the square, fancy knots in the diamond, the kalima in the circle, with marginal legends both sides, but almost entirely off flan, remarkably broad, at 46mm, crude VF, RRR. Size and style suggest Samarqand as a possible mint, appears unpublished.

Estimate: 100-200 USD