So many different sorts of artistic calligraphy in ancient Arabic or Islamic writing. I guess I can read " Lulu King of Islam " Al Mustadre D ..K .to the Religion of Allah. Hope that might help a little bit.
I have a feeling it's a fals of Badr al-Din Lu'lu', issued under Mongol rule. Not unlike this one (Album 1876): https://en.numista.com/catalogue/pieces150037.html Lu'lu al-malik al-rahim badr al-din sultan al-islam abu al-fadail Mongke qaan-i azam khudawand-i 'alam padishah-i rui zamin zayyada 'azamatahu I have one, but overstruck: Hulagu Khan Fals, 1260-1261, overstruck on a Badr al-Din Lu'lu' Fals, 1258-1259 Sinjar (Iraq), the Ilkhanate. Bronze, 24mm, 6.87g. Shahada in three lines. 8-point star, ‘the Ilkhan Hulagu, may Allah increase his greatness’ (Album 2125.3; Zeno 35480, this coin). Overstruck on a Fals of Badr al-Din Lu'lu', recognising Möngke Khan (Album 1876). Badr al-Din Lu'lu' (ruler of Mosul, Iraq) surrendered to Hulagu Khan (founder of the Ilkhanate), sparing his city from destruction. He recognised Möngke (as Supreme Khan) on his coins. Stephen Album says: This (Album 1876) is one of the earliest types to have inscriptions in Persian as well as Arabic, the former padshah-e ruy-i zamin, “emperor over the face of the earth”, likely a title of Chinese origin. The type is often found overstruck, especially on Album 1874.1.
I am not sure that it is "rare"; but maybe "scarce". I found only a few examples on ACS. This nice, well-centered example sold for $90 last year in a CNG auction.
