Dirham - Mas'ud b. Hasan

The Western Qarakhanid Khaganate by the 1160s was operating as a vassal state under Qara Khitai overlordship, following the Khitans' decisive defeat of the Qarakhanids at the Battle of Qatwan in 1141. Mas'ud b. Hasan's issues reflect this subordination — Qarakhanid khans of this period were permitted to mint in their own names but remained effectively client rulers, a political reality sometimes encoded in the coin's acknowledgment of overlord authority.

The billon composition is consistent with the monetary degradation across Central Asian minting in this period, as silver content in regional dirhams declined steadily through the twelfth century.