1175-1190 AD., German States, Kaiserswerth mint (?), Pfennig, Hävernick 766.

German States, Kaiserswerth (or Rees?) mint, imperial issue, struck ca. 1175-1190 AD.,
Pfennig / Denar (leight weight Utrecht standard) (ø 14,5 mm / 0,54 g), silver, test cut on top of the obverse,
Obv.: (no legends) , bust of St. Suitbert facing with crosier and book, all within circle and dotted border.
Rev.: AI+IC+TV+IΛ + (retrograde) , corrupted legends for TRAI-EC-TV-M (?, meaning latin name of Utrecht), cross with one small cross in each angle within dotted circle.
Hävernick 766 ; JMP. 1980, p.133, no.53 ; Beeldenaar 6., no.3 (by R.C.M.Wientjes) ; Bonhoff coll. - .

from http://www.henzen.org/en/germany.php :
This denar has traditionally been assigned to Rees. This coinage would have been made on behalf of the Marienstift in Rees or by the city of Rees as the coinage of the Archdiocese of Cologne at the time of Bishop Reinald of Dassel (1159-1167).
However, on the basis of find data, these light tokens must be dated somewhat later than the reign of Reinald van Dassel, namely between 1175 and 1190. There are no clear historical sources for this coinage, or no mention of this light token in documents. The reason for the attribution to Rees, however, is the fact that a light coin has been struck there under Bishop Engelbert I (1216-1225), which shows almost the same reverse. For a long time, however, this attribution to Rees has been strongly questioned (eg. by Buchenau, Prof. G. W. de Wit and R. C. M. Wientjes). Prof.G.W.de Wit argues for Arnhem as the place of currency, but this is generally regarded as very unlikely. More likely is the attribution to Kaiserswerth by R.C.M. Wientjes. In 1174, Emperor Friedrich Barbarossa moved the important Rhine toll from Tiel to Kaiserswerth, located halfway between Düsseldorf and Duisburg. In 1181 the status of government city was also obtained. Already around 700 a Benedictine abbey was founded there on a weerd, an island in the Rhine. The first abbot was a Suitbert, who would later become the patron saint of the city. From Kaiserswerth as coinage, further information is lacking, but it is quite possible that at such an important toll location the national currency was also shifted from Tiel to Kaiserswerth. Tiel was strong on its return at that time and coinage had ceased at the beginning of the 12th century.
These coins are common. There are also similar coins with related text on the reverse, but with an imperial bust on the front. That type is traditionally assigned to Nijmegen. It is clear that the coin locations of both coin types must be placed in the same region. The coinage at Kaiserswerth would then have been brief but intense. The front of this type is clearly derived from the coins of the Cologne archbishops Reinald van Dassel (1159-1167) and Philips van Heinsberg (1167-1191), but in this context should be seen as the patron saint of Kaiserswerth, nml. Saint Suitbert. Affiliation with the Cologne coin types only helped the acceptance of this coin type in the region and it is known that the coinage in Nijmegen and Kaiserswerth was aimed at Utrecht's weight, but at Cologne's type. (JMP 1980, pp. 114-115)
The reverse side text has different compositions and is difficult to explain. Some believe it would refer to CIVITAS or CASTRA WERDA (all Is in the text have no meaning and should be neglected), but that theory seems very dubious. It is more likely that it is a corruption of + TR + AI + EC + TV, and a penny of the Utrecht bishop Godfried van Rhenen (1156-1178) served as an example (see van der Chijs plate V, no. 1-2).
Early in 1190, King Henry VI promised the Archbishop of Cologne that from now on he would only have two coin locations in this Archdiocese, Duisburg and Dortmund. This indicates that there were more at that time, although they are not mentioned by name. In the same charter, Hendrik promised to only mint coins according to the value, form and appearance of the Cologne. This therefore indicates that tokens were struck that deviated from the heavy Cologne tokens. It is quite possible that these light Lower Rhine tokens (struck on the foot of Utrecht) were the reason for this decision. This put an end to this assumed coinage at Kaiserswerth (see figures Dec.1978 and JMP 1980). The closely related light coin (Hävernick 768), which was minted under Bishop Engelbert (1216-1225), is clearly modeled on this type of coin. However, the coin location may very well have been the nearby Kaiserswerth.