The Hotak Dynasty was an Afghan monarchy of the Ghilji Pashtun. The first king to take power in Kandhar, was Mirwais Hotak. After his death many different Hotaks took the throne, such as Abdul Aziz Hotak, Mahmud Hotak, Ashraf Hotak, and Hussain Hotak, eventually losing control. Ashraf Hotak was the fourth Shah to rule the Hotak dynasty. Before becoming emperor, he served as a commander in the army of Mahmud Hotak during his revolt against the heavily declining Safavids. In 1725, he briefly succeeded to the throne (Shah of Persia). His reign was noted for the sudden decline in the Hotak tribal rule under increasing pressure from the two superpowers of the time Turkish, Russian, and Persian forces.

During the reign he issued gold and silver coins in round and rectangular shapes. These coins issued in the denomination of Ashrafi, Shahi and Abbasi from various mints such as Isfahan, Qazvin, and Shiraz.

The above shown gold Ashrafi was issued during his reign from Isfahan mint. The obverse of a coin depicted the Sunni Kalma with AH date. The reverse of a coin bore the couplet "Ba-Ashrafi athar-e nam-e anjenab rashid Sharaf za sekkeye Ashraf bar aftab rasid Isfahan".

Image Source: Heritage Auctions