There are different specimen, I see and ours is one with the crown not within the rope circle but Zygmunt III Waza is our man, I think.
It's rather not a rope, but a
border made of dots and dashes. The
type of
border around the
monogram is rather not noted in catalogs, but I may be wrong. For example, there is no such distinction here:
http://blognumizmatyczny.pl/2019/04/23/wirtualne-muzeum-polskiego-szelaga-wmps-zygmunt-iii-waza-wilno-czesc-1/ If I have mistaken the
mint, a clue to its correct marking may be a fragment of the second coin visible on the
side of the
monogram, which indicates that the coin wasn't struck, but pressed with a roller and then cut out of sheet metal. Wlino certainly used this method, but as far as I know, there were also other mints that produced shillings in this way duging Zygmunt III reign.
If it's Wlino/Vilnius, then at the end of the
legend of the page with the coat of arms (
reverse) there should be something like MDL (if anything can
still be read there). This means that the coin was produced in the Lithuanian
part of the country, and Wlino was the only
mint operating there at that time. The MDL on the
monogram page (
obverse) is
part of the
king's title (=Grand Duke of
Lithuania) and is not suitable for such a distinction (right before it is a record that he is also the
king of
Poland).
That's it. I'm not getting anything else out of it :-)