Denga - Peter I / Ivan V with the name of Peter

During the co-regency of Ivan V and Peter I, coins were struck in the names of both tsars simultaneously — an awkward political arrangement engineered by Sophia Alekseyevna, who ruled as regent behind both nominal sovereigns. This piece bears Peter's name but belongs to the archaic wire-money tradition, hand-cut from drawn silver rod and hammer-struck between dies, a technique unchanged in Russia since the fifteenth century. Peter would later abolish this entire monetary system in his coinage reforms of 1698–1704, making these denga issues among the last survivors of medieval Russian minting practice.