Denga - Vasiliy III

Vasiliy III completed the absorption of the last semi-independent Russian principalities during his reign — Pskov in 1510, Ryazan in 1521 — and the coinage of this period reflects a monetary system still consolidating around Moscow. The denga denomination had been the backbone of Muscovite small change since the late 14th century, struck by hammering between hand-cut dies, a technique that produced the characteristic irregular flans collectors encounter today.

Zaitsev's classification separates these issues by die-link groupings rather than date, since no year appears on the coin itself.