Horseman advancing right, holding a spear, letters "AΛ" below / Inscription in 5 lines "TSAR I / VELIKIY/KNYAZ IB/AN VSEYA/RUSY" ("Tsar and Grand Duke Ivan of all Russia"). 15mmx11mm, 0.68 grams. Novgorod mint. Griszin #80; Russian Wire Coins #80.

This is a full kopeck (not a denga). The coin was minted in Novgorod in the 1550's.

The infamous Ivan "the Terrible" was the Grand Duke of Russia between 1533 and 1547. In 1547 he assumed the supreme title of "Tsar" ("Caesar") and ruled as such until his death in 1547.