Pfennig - Leopold III, Leopold IV or Henry II

Austria's earliest coinage is notoriously difficult to attribute with confidence, and this piece illustrates exactly why — the CNA B14 type spans three possible rulers across a decade of political turbulence in the Eastern March. The Babenberg margraves began issuing their own denars only after consolidating enough regional authority to do so, a process that unfolded fitfully through the early twelfth century as imperial politics repeatedly disrupted local governance.

The broad, thin fabric and relatively wide diameter are characteristic of the Salzburg-influenced striking technique adopted in this period, not a generic feature but a deliberate regional convention.