1 Ferding

Riga's ferding denominations of this period reflect the monetary chaos following the collapse of the Livonian Confederation, dissolved under the pressure of Ivan the Terrible's invasion beginning in 1558. The city struck its own coinage during this interregnum precisely because no stable overlord existed to do it — the Polish-Lithuanian Commonwealth would not formally absorb Riga until 1581, leaving the city in an awkward position of de facto independence it was careful not to advertise too loudly.

The Haljak reference range spanning issues 15 through 26 indicates meaningful die variety across the emission, a consequence of continuous small-batch striking rather than a single coordinated production run.