Watch List notes:

QARA-KHITAY IN BALKH: Muhammad b. Mas'ud, ca. 1191-1194, AE dirham (5.86g), DM, MM, A-3480M, with the titles shams al-dunya wa'l-din abu'l-muzaffar, citing the caliph al-Nasir, mint name possibly Tirmidh, date off flan, different arrangement from the previous lot, nice patination, VF, RRR. No coins of Muhammad b. Mas'ud are listed by Kochnev, none are on Zeno, and none are on CoinArchives. This and the previous lot are the only examples thus far reported.

Estimate: 120-160 USD