Denga type 2, D B

Novgorod's denga coinage of this period reflects the republic's unusual position as a commercially autonomous city-state trading directly with the Hanseatic League while nominally acknowledging Muscovite pressure on its borders. The type 2 designation within the DB die-pairing classification comes from the systematic work of Russian medievalists cataloging the considerable die variety within Novgorod's output — a mint that operated without the centralized controls typical of contemporary European coining authorities.

Moscow finally extinguished Novgorodian independence in 1478, the terminal date of this issue's production.