Iran
Qajar. Muzaffar al-Din Shah gold Medallic 5 Toman AH 1317 (1899/1900) AU50 Details (Mounts Removed, Tooled) ANACS, KM-XMV29, cf. Fr-53 (this date not listed), Rabino-pg. 78, 1, Kian-137 (RR). A quite rare medallic issue, generally described as a Medal of Valor of 5 Toman-size. Clearly derived from a similar award produced under Nasir al-Din Shah, but with Muzaffar's name substituted (as noted by Rabino), the type would usually have come with ribbon and suspension, which on this piece has been removed, with an apparently secondary mount or shank at one time added to the reverse.
https://coins.ha.com/itm/iran/iran-qajar-muzaffar-al-din-shah-gold-medallic-5-toman-ah-1317-1899-1900-au50-details-mounts-removed-tooled-anac/a/3091-32623.s?type=CoinArchives3091
HID02906262019
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Estimate: 1500-1700 USD