Watch List notes:

QARAKHANID: Ahmad b. 'Ali, 994-1016, AE fals (3.49g), al-Sughd, AH[40]5, A-3305, Kochnev-391, Zeno-4107, hawk clutching quail in its claws, khaqan below with three dots on either side // citing Ahmad b. `Ali khaqan in field and his laqab qutb al-dawla in margin, lovely brown patina with traces of mint luster, one of the finest examples of Qarakhanid coinage known to us, choice AU, RRR, ex Ralph A Cannito Collection. This extraordinary coin commemorates Ahmad's conquest of Sogdia in the internecine war following the death of his brother Nasr in 403. The image of the hawk over the quail no doubt proclaims his triumph over his belligerent younger brothers, Mansur and Muhammad. The war ended in 407 with a peace treaty.

Estimate: 250-350 USD