A rare and very interesting imitation of the crown trojak.
A mysterious issue most likely originating in Transylvania, with an unspecified issuer's coat of arms in place of the Vasa sheaf.
Trojaks in the first half of the reign of Sigismund III Vasa were not only his crown denomination. They also conquered Europe by becoming a recognizable, widely recognized international currency in trade. Among others, they were minted under their coats of arms by fiefdoms (Courland, Prussia) or more distant states (Transylvania, Raguza). In some places, meanwhile, imitations were minted on the model of our trojaks (with Polish coats of arms, titulature and a bust of Sigismund III) in order to convert silver into a commonly accepted currency for trade. Like the Russians minting Dutch ducats in St. Petersburg hundreds of years later.