Watch List notes:

QARAKHANID: Malik Aram, dates unknown, AE fals (2.25g), A-1510Q, Zeno-257890 (this piece) and 257930, normal Qarakhanid style, citing Malik Aram on the obverse, al-Muqtafi billah on the reverse, with the Buddhist mandala in the obverse center; full identification will need further examples, and this remains one of the most perplexing Qarakhanid coins! VF, RRRR. Although the name Malik Aram is clear on the Proto-Qarakhanid cash (type A-1510P), this piece cites al-Muqtafi billah, presumably the Abbasid caliph AH530-555 (1136-1160), very clear on Zeno-257930. Also, unlike the cash type, this type is said to have been found near Bukhara, not in eastern Kazakhstan. There may be a mint & date in the obverse or reverse margin, nearly all off flan on the only two known examples.

Estimate: 200-300 USD