Zarb Sarai al-Jadid // Same in incuse. 16mm, 1.54 grams. Mint of Sarai al-Jadid. 

Interesting reverse brockage of the silver dang.

The location of Sarai al-Jadid ("New Sarai") is not completely certain - the current consensus is that it was located near the site of Selitrennoe Gorodishche on lower Volga, in modern Russia.

The Golden Horde was a Mongol khanate founded in the mid-13th century by Batu Khan, a grandson of Genghis Khan, following the Mongol conquests in Eastern Europe. It emerged as the westernmost division of the Mongol Empire and ruled over a vast territory including parts of Russia, Ukraine, Kazakhstan, and Central Asia. The Golden Horde played a dominant role in the region for over a century, exerting political and economic control over the Russian principalities through tribute and military pressure. Initially a powerful and centralized state, it gradually embraced Islam under rulers like Uzbek Khan, and flourished as a key hub in Eurasian trade, especially along the Silk Road. However, internal strife, succession crises, and external pressures—particularly from Tamerlane and the rising power of Muscovy—led to its decline and eventual fragmentation into smaller successor states by the 15th century.