Dirham - Akhsitan I ibn Minuchihr

The Shirvanshah rulers of the eastern Caucasus occupied an awkward political position in the twelfth century — nominally subordinate to the Seljuk sultanate yet functionally autonomous, which their coinage reflects. Akhsitan I's issues from this decade predate his best-documented political coup: a decisive naval victory against the Rus raiders on the Caspian, an engagement remarkable enough that Nizami of Ganja commemorated it in verse.

The silver-plated fabric is worth noting critically. Whether this represents official billon policy responding to silver shortages in the Caucasian regional economy, or post-mint degradation of a once-solid flan, is a question this type has not resolved cleanly in the literature.