Watch List notes:

KHWARIZMSHAH: Mangubarni, 1220-1231, AR small dirham (2.99g), MM, ND, A-1745.1, ruler's name and title jalal al-dunya wa'l-din, with another word above, probably the city name Kurraman // the caliph's name, al-nasir li-din Allah, mount removed. Cf. lot 383 in our Auction 29, which lacks the upper text line on the obverse, but was struck with the same reverse die! VF, RRR, ex M.H. Mirza Collection. The dies were engraved by the same staff that produced his father's equivalent (A-1721) and the issue in the name of Chingiz Khan (A-1967), and it is much rarer that either of those two. It must have been struck very briefly, perhaps just after the Mongol troops left Ghazna en route to the Indus River, chasing Mangubarni, before the Mongols returned to the region. It may have been struck outside of Ghazna in the same regional area.

Estimate: 400-500 USD