Watch List notes:

GHAZNAVID: Mahmud, 999-1030, AR broad dirham (5.59g), al-Karaj, AH(42)1, A-1611J, citing his son Mas'ud, as found only on a few extremely rare Iranian mints (reported for Isbahan 420, al-Rayy 420-421, and now also al-Karaj 421, about 10% flat, VF, RRR. This appears to be the first known Ghaznavid coins of the al-Karaj mint (near Hamadan in western Iran), and one of latest dates for this mint, known from a gold dinar of the Seljuq ruler Muhammad (AH492-511).

Estimate: 180-240 USD