Penny minted in Sigtuna for Olof Skötkonung, King of Sweden 995-1022. With his baptism he contributed to Sweden's christianization and was the first to mint coins in Sweden.
The obverse shows a portrait of Olof, surrounded by the words "OLAF REX AN ZTNETEI", which translates to "Olof, King of Sigtuna".
On the reverse side we see a cross and in its angles the letters "C R V X" = cross. Surrounding the cross is the text: "AELFRIC A PALIGNEFOD" = Aelfric of Wallingford. Aelfric was probably one of the masters from England, employed to run the production of coins.
Material: brass alloy
Height (including loop): 28 mm
Diameter: 20 mm
Weight: 2 g