The bi-cephalic eagle is a Roman concept (looking East and West, therefore symbolising the split Roman empire), used by Byzantium, the Bulgarian empire, the Greek catholic church, the Austrian empire and it successors and probably others. There's nothing to stop the modern Russian state from using it. Heraldic elements are not propriety. They serve only to recognise loyalty at a distance. The breast shield with the Moscow arms is perfectly OK also, especially since Moscow is Russia's capital, since it will clearly distinguish the Russian and Austrian arms. Incidentally, the Austrians are using the arms of Vienna as a breast shield.
The case is different for the crowns, sceptre and globus cruciger attributes, even though they are also Roman in origin. The crown was originally a metallic diadem of laurel. The sceptre was a symbol of imperial power, originally taller than a man and the globus was an attribute of Zeus, holding the world in his hand, modified by a cross to indicate christianity. They are political symbols: empire or emperor/czar, royalty and divine power or at lease god-approved (dei gratia.) The symbolic value of crowns has diminished through liberal use by marketeers, but the sceptre and globus have remained symbols of hereditary rulers of nobility, which Putin isn't.
Walking through Moscow, you get to see many buildings housing state institutions. The arms on them are quite different, giving an impression of either sloppiness or ignorance of heraldry. That may be the best way to interpret the arms on these coins.
Peter
