New research results:
PRE-YUAN MONGOL CHINA: Da Chao, ca. 1251-1260, AR cash (2.69g), H-19.1var, two countermarked characters on reverse (1) Chinese hai for Chinese cyclical date (=1251 A.D.) (2) Arabic khan, obverse calligraphy type 1A, countermark set A1-H2 (ref. Belyaev, Sidorovich), RR, Zeno-13138 (this coin), some cleaning, Fine

Da Chao means "Great Dynasty," the name the Mongols used for themselves. According to Belyaev & Sidorovich this type was cast in the Great Khans' headquarter in the root of mountain Liupan (Ningxia Hui Autonomous Region, China) during Möngke Qa'an reign.

Old interpretation: Da Chao means "Great Dynasty," the name the Mongols used for themselves. According to Hartill, "This coin is alleged to have been cast by the legendary Chengis Khan at his capital at Karakorum. It is usually found in silver." This would place the date about 50-60 years prior to the formal foundation of the Yuan dynasty in 1280, when Khubilai Khan was installed as Emperor of China at Beijing. An alternative attribution assigns this type to the period of Kublai Khan (1260-1294), who first claimed the title of Khaqan in 1260, finalizing his power after the defeat of his rival, Ariq Böke, in 1264. The coin would presumably have been produced either before 1280 or before the introduction of his zhi yuan tong bao cash coins in about 1285. It is currently estimated that approximately 200-250 specimens are known to exist.

Estimate: 800-1,000 USD