Rare 1,000-Year-Old Silver Coin Found in Novgorod Sheds New Light on Early Medieval Rus’
Archaeologists excavating the historic city of Veliky Novgorod have uncovered a rare silver coin minted during the reign of Prince Vladimir Svyatoslavich, a discovery that is reshaping historians’ understanding of the political and economic ties linking Novgorod and Kyiv more than a thousand years ago.
The coin, dating to the late 10th or early 11th century AD, was found during rescue excavations on Troitskaya Street by the Novgorod Expedition of the Institute of Archaeology of the Russian Academy of Sciences. It is only the third silver coin of Prince Vladimir ever discovered in Veliky Novgorod, making it one of the city's most significant numismatic finds.Image Credit : RUS
A Rare Glimpse into Early Rus’
Ancient coins from the earliest period of the Rus’ state are exceptionally rare in northwestern Russia. Before this discovery, only four silver coins issued by Prince Vladimir Svyatoslavich (c. AD 960–1015) had been documented across the region, with two previous examples unearthed in Veliky Novgorod during excavations in 2010 and 2023.
The latest discovery strengthens the archaeological record for one of Eastern Europe’s most influential medieval cities and provides valuable evidence for a period that remains poorly documented in written historical sources.
Discovered Beneath Novgorod’s Oldest Settlement Layers
The silver coin was recovered on 24 July from the deepest cultural deposits at the excavation site, where archaeologists identified evidence that the area was first settled during the late 10th century.
Although the excavation covered only 130 square metres, researchers uncovered an impressive collection of material, including the remains of a medieval estate.
Excavations also produced more than:
- 600 individually catalogued artefacts
- 55,000 additional archaeological finds
These included:
- Pottery fragments
- Leather offcuts
- Animal bones
- Bone tools
- Amber objects
- Glass artefacts
- Stone implements
- Metal objects
Together, the discoveries provide an exceptional snapshot of daily life in early medieval Novgorod.
A Coin of Exceptional Historical Importance
The newly discovered coin is made from high-grade silver, although only half of the original survives. Archaeologists determined that it had been deliberately cut during antiquity, likely so it could be used as fractional currency.
The surviving piece weighs 1.90 grams and belongs to the earliest known series of silver coins issued by Prince Vladimir.
Historians believe these coins were introduced shortly after the Christianisation of Rus’, one of the most transformative events in Eastern European history.
Christian Symbols Reflect a New Era
The coin's imagery reflects the religious transformation taking place across the Rus’ lands during Vladimir’s reign.
One side depicts Prince Vladimir seated while wearing a ceremonial cloak and holding a cross. Beside him appears a trident, the dynastic emblem associated with his ruling family. An inscription identifies the coin as "Vladimir's silver."
The reverse features a bust of Jesus Christ holding the Gospel, symbolising the adoption of Christianity following Vladimir’s conversion and the subsequent baptism of the Rus’ in AD 988.
The combination of royal and Christian imagery illustrates how coinage became a powerful tool for expressing political authority and religious identity.
Matching Coins Minted Over 1,000 Years Ago
Researchers say the remarkable state of preservation allowed specialists to compare the coin with other known examples.
Detailed examination showed it had been struck using the same dies as coins previously recovered from:
- A hoard discovered in Kaluga Region
- A separate find in the Chernihiv region
These matches help archaeologists better understand how early Russian coins were produced and distributed.
One of Only 300 Early Examples
Around 800 silver coins issued by Prince Vladimir are currently known worldwide.
They are classified into four principal types, with the newly discovered specimen belonging to the earliest issue.
Only about 300 coins from this first series have been identified, making each newly discovered example an important contribution to medieval numismatic research.
Expanding the Map of Early Rus’
Most of Vladimir's silver coins have traditionally been found close to Kyiv, where historians believe they were minted.
Isolated discoveries are generally concentrated within the historic territories of:
- Kyiv
- Chernihiv
- Pereyaslavl
However, recent archaeological discoveries have gradually expanded the known distribution of these coins into northern regions, including:
- Kursk
- Bryansk
- Tula
- Kaluga
- Vladimir
- Veliky Novgorod
The latest discovery reinforces the idea that Novgorod maintained close political and economic ties with Kyiv during the formative years of the early Rus’ state.
Rescue Archaeology Continues to Transform History
Like the previous two Vladimir coins discovered in Veliky Novgorod, this latest example was recovered during rescue excavations carried out before modern construction work.
Such development-led archaeological projects continue to reveal hidden chapters of the city's past, demonstrating how modern infrastructure projects can unexpectedly contribute to historical research.
For archaeologists, the discovery represents more than the recovery of a rare coin. It provides direct evidence of trade, political authority, economic exchange, and the spread of Christianity during one of the most important periods in Eastern European history.
A Small Coin with a Big Historical Impact
Although only half of the original coin survives, its historical value is immense.
The find offers fresh insight into the earliest decades of Veliky Novgorod, strengthens evidence for its relationship with Kyiv, and expands the known circulation of the first official coinage issued by Prince Vladimir Svyatoslavich.
As rescue excavations continue across one of medieval Rus’ most significant historic centres, archaeologists expect further discoveries to deepen our understanding of the emergence of the early Russian state and the communities that shaped its history more than a millennium ago.