Watch List notes:

QARAKHANID: Ahmad b. 'Ali, 994-1016, AE fals (2.29g), Ishtikhan, AH404, A-3305, obverse field legend khan al-'adil within decorative border, with his laqab qutb al-dawla in the reverse marginal legend, very rare mint, VF-EF, RR. Unpublished by Kochnev, but posted on Zeno (#15378 & 76726), identical except that "khan " below the reverse field is vertical on this piece, horizontal on the Zeno pieces.

Estimate: 100-130 USD