Watch List notes:

ISLAMIC, Ayyubids. Egypt. al-Nasir I Salah al-Din Yusuf (Saladin). AH 564-589 / AD 1169-1193. AR Dirham (21mm, 2.76 g, 6h). Citing the 'Abbasid caliph al-Mustadi bi-amr. Hamah mint. AH date off flan, but struck AH 572 (AD 1176/7). al-malik al-nasir/yusuf ibn ayyub in two lines; ornaments above and below; zarb hada al-dirham bi hamah [...] in outer margin / al-mustadi bi-amr/amr al-muminin in two lines; lillah above; ornament below; first portion of kalimat at-tawḥīd in outer margin. Grierson, Coins of Medieval Europe, p. 106; Balog, Ayyubids –; ICV –; ANS inv. no. 1998.91.1; CNG E-226, lot 595. Iridescent toning, areas of weak strike. VF. Extremely rare, unknown to Balog and unlisted in Album.

From the Richard A. Jourdan Collection of Medieval European Coins. Ex Classical Numismatic Group 72 (14 June 2006), lot 2284.