Russian wire money were hand-struck between the 1360s and 1710s, which is a fascinating part of the rich history of pre-Imperial Russia. There are numerous varieties of these coins, some of which are available for a few dollars, and others of which are unavailable at any price, having only one known specimen.

Ivan III's grandson, Ivan IV, inherited Moscow's throne in 1533 at age three. Almost immediately, his mother and regent, Elena Glinskaya, reformed Russian currency. Coins weighing 0.68 grams, close in weight to the 0.78-gram coins minted in (Veliky) Novgorod, were called "kopeks." Almost all of these coins had text on one side and a horse and rider with a spear pointed toward the lower right on the other. Since "spear" is similar to "kopek" in Russian, it's often stated that that's how the coin was named.

These silver kopeks of Peter the Great are often called wire money because of the fact that silver wire was cut, and than, die was hand struck individually.

Dengas were made only in the southern Russian principalities; the state of Novgorod and the City of Pskov made their own slightly larger coins. In 1535, a reform took place, with the northern "novgorodka" being valued at twice the southern denga or "moskovka". In the 1540s novgorodkas depicting a horseman with a spear began to be made, and novgorodkas were thenceforth known as kopecks.

The minting of silver dengas seems to have decreased after the 16th century, as they are found less often in hoards, but they are known until the reign of Peter the Great. By that time the coinage had devalued so far that dengas weighed only about 0.14 grams, and were of little practical use.

Silver dengas were not minted during the last years of Feodor I's rule, nor during the Time of Troubles, though silver wire kopecks were minted throughout this period, including emissions by imposters and invaders.

In the coinage reform of 1700 they reappeared as much larger copper coins, and mintage continued, off and on, until 1916, just before the Romanov dynasty was ovethrown in 1917.

Peter I (1672 – 1725), commonly known as Peter the Great, was Tsar of all Russia from 1682, and the first Emperor of all Russia from 1721 until his death in 1725. He reigned jointly with his half-brother Ivan V until 1696. From this year, Peter was an absolute monarch, an autocrat who remained the ultimate authority.

OBVERSE: A horseman with a spear (depicts the Tsar) on a galloping horse, right.

Lettering: ҂АѰВ

Translation: ҂А=1000, Ѱ=700, В=2

REVERSE: Cyrillic inscription. The legend contain the tsar’s title.

Lettering: Царь и Великий Князь Петр Алексеевич всея России

Translation: Tsar and Grand Prince Pyotr Alexeyevich of all Rus

EDGE: Hand Hammered

Mint: "҂АѰВ" - Old Mint, Moscow, Russia

Country                           Russian Empire

Tsar                                 Peter the Great (1683–1717)

Type                                Standard circulation coin

Year                                 1702

Value                               1 Kopeck (1 Копейка)

Currency                          Ruble (1533-1717)

Composition                    Silver

Weight                             0.272 g (28g)

Diameter                         10 x 7 mm

Shape                               Irregular

Technique                        Hammered (wire)

Orientation                      Medal alignment ↑↑

Demonetized                   Yes

References                       KG# 1683, GKH# 1247, GKH2# 1312

https://kyiv2014.com/wire.html

https://www.calgarycoin.com/reference/peterwiremoney/peterwiremoney.htm

https://kyiv2014.com/copeck/8013/1702.html