Horseman advancing right, holding a spear, letters "ΠC" below / Inscription in 5 lines "TSAR I / VELIKIY/KNYAZ IB/AN VSEYA/RUSY" ("Tsar and Grand Duke Ivan of all Russia"). 15mmx12mm, 0.62 grams. Pskov mint.  Grishin #77; Russian Wire Coins #77.

This is a full kopeck (not a denga). The coin was minted in Pskov in or slightly after 1547.

Ivan IV “the Terrible” (1530–1584) was the first ruler to be crowned Tsar of all Russia, centralizing power and transforming the state into a multiethnic empire. His early reign saw reforms in law, military, and administration, but later years were marked by paranoia, brutal purges, and the oprichnina—a policy of political repression and mass executions. Ivan expanded Russia’s territory through conquests of Kazan, Astrakhan, and Siberia, securing control over the Volga. His reign also saw cultural growth but devastating wars, famine, and population loss. He died in 1584, leaving a mixed legacy of state-building and tyranny.