Watch List notes:

Abbasid, al-Rashid, mule Dirham, Madinat al-Salam 178h, citing Mubarak, 2.80g (Lowick 1314 var.). Edge clip, peripheral hornsilver, otherwise very fine and extremely rare.
This is a mule struck with an old reverse die of al-Muhammadiya; this reverse type is recorded for al-Muhammadiya in 171h.

Estimate: £200-250