After the death of Fyodor Ivanovich, the last tsar of the Rurikid dynasty, Boris Godunov took the helm of the state. In the first months of his reign, the new ruler did not hasten to issue coins in his own name, apparently recognizing the instability of his position on the throne. Therefore, from January to September 1598, the mints struck coinage bearing the name of the previous tsar, Fyodor Ivanovich.
At that time, a fierce internal political struggle unfolded for the throne, during which Godunov managed to keep power in his hands. The result, of course, was the issue of money in the name of the new tsar. From 1599, the mints of Moscow, Novgorod, and Pskov began mass production of coins with the name of the "Grand Prince of All Rus', Boris Fyodorovich." Under Godunov, the main denomination became the silver kopeck, which retained its weight of 0.68 g. The minting of smaller denominations—polushkas and dengas—was discontinued.
Gradually, the appearance of the coin changed. The main elements of the kopecks remained unchanged, but they acquired a unified design style. The various coin types characteristic of local mints disappeared. From then on, the Mint Office sent to the Novgorod and Pskov mints the tools for coin striking, manufactured in Moscow. Coins became uniform throughout the state, without regional varieties.
The mint in Pskov occupied the most modest place in the system of coin production under Boris Godunov. It is interesting that for a long time during the minting of this tsar's coins in Pskov there was not even its own engraver. Master punches for producing finished dies were brought from Novgorod, and later from Moscow. Under the horseman, the letters "PS" (Pskov) were placed.