Horseman right, crude and barely visible Cyrillic circular iscription around. (corrupt "Grand Duke Vasily") / Arabic inscription in three lines "Al-Sultan To / Khtamish / Khan Khalad" ("Sultan Tokhtamish Khan, (may his rule) endure", bust of Toqhtamish (upside-down) and 2 coiled decorations in the middle line. Moscow mint (?), minted in the early 1390's. 15mm, 0.89 grams. Huletzky/Petrunin/Fishman #137c (rarity II).
Very rare early Moscovite coin, struck to the Golden Horde dang standard of Tokhtamish. Interesting and rare bilingual Russian/Arabic type, naming both the Russian Grand Duke and the Golden Horde Khan! Typical weak stike.