The Sigtuna pendant, excavated in the 1960s shows artistic similarities to the Hiddensee pendant, namely: the raven motif and the detailed filigree workmanship. This has led to some suggestions that it is the work of the same craftsman. Like the Hiddensee hoard, the piece dates to the late 10th century.
Sightuna at that time was a newly founded royal and commercial centre, and an early focal point for the establishment of Christianity in mediaeval Sweden. It is speculated that the town was founded as replacement for Birka, which became abandoned in the 960s. The town was named after Fornsigtuna (modern-day Signhildsberg), an old royal estate, 2.5 miles to the west of Sigtuna. According to chapter 5 of the Ynglinga Saga, which is the initial part of Snorri Sturluson's Heimskringla, the euhemerised Odin
'took up his residence at the Maelare lake, at the place now called Old Sigtun.
There he erected a large temple, where there were sacrifices according to the
customs of the Asaland people. He appropriated to himself the whole of that
district, and called it Sigtun. To the temple priests he gave also domains.
Njord dwelt in Noatun, Frey in Upsal, Heimdal in the Himinbergs, Thor
in Thrudvang, Balder in Breidablik; to all of them he gave good estates.'
There are various theories regarding the etymology of the name, Sigtuna. The primary ones are as follows:
a) 'place' (tun) of a 'swamp' (sig).
b) 'place' (tun) of 'victory' (sig).
It should be remembered that 'sig' forms the first element in some of the bynames of Odin:
a) Sigdir (victory bringer).
b) Sigfodr (father of victory).
c) Siggautr (victory Gautr).
d) Sigrhofundr (victory author).
e) Sigmundr (victory protection).
f) Sigrunnr (victory tree).
g) Sigtyggr (victory true).
h) Sigtyr (god of victory).
i) Sigthror (successful in victory)
While both explanations are suitable, I personally favour the latter. The Ynglinga Saga draws a clear connection between Odin and the old settlement of Sigtuna. From the 10th century, the new Sigtuna took over the functions as well as the name from the old settlement, while the former Sigtuna became known as Old Sigtuna or Fornsigtuna.
Returning to the symbolism of the pendant, it is clear to me that the bird head represented on the bottom of it is a raven in abstract form, a heathen symbol with close connections to the god, Odin. It is stylised to form almost a hammer shape, and for this reason many modern reproductions are referred to as the Sigtuna 'hammer'. The original pendant was crafted in gold and an image of it is shown below.