Watch List notes:

WORLD COINS, INDIA, SULTANATES Qutb Shahs of Golkanda. Muhammad Quli Qutb Shah (AH 988-1020 / 1580-1611 AD). Gold Fanam, 0.37g (G&G Q8). The reverse well-centred, uncirculated. Rare.
The obverse legend on the Fanams of Muhammad Quli Qutb Shah remains unclear: on some coins it looks like "muhammad quli", on others like "fakhr-i 'ali"

Estimate: $ 180