Denga - Ivan IV Moscow

The denga issues of Ivan IV's minority coinage — struck while his mother Elena Glinskaya held the regency — emerged directly from the monetary reform of 1535, which abolished the older regional wire-money systems and imposed a unified Muscovite standard across territories that had previously maintained separate minting traditions. The reform was driven less by economic idealism than by the practical problem of widespread coin clipping and counterfeiting that had destabilized trade throughout the preceding decade.

Elena died in 1538, almost certainly poisoned, ending the regency and the administrative coherence it briefly provided.