Does anyone know the history/culture of this beaded bag?

I am hoping that someone can help me find out what this is (see attached pictures). It was my Great Grandfathers. It is a small red beaded bag. It contained a baptismal coin in one side. I don't know if that was the original intention of the beaded / woven bag. One one side there were crowns and on the other side were the initials WS and WG. On the bottom of each side of the bag were loops of white beads (7 on one side and 5 on the other - originally). The crown and initials were also done in white beads. I have always thought that the beaded loops on he bottom might have some significance (one side has lost it's loops). My Great Grandfather was baptised in Mława. Please excuse my lack of Polish. I have his baptismal certificate here and on it - it says...

Rz.-kat. Parafia
Sw. Trójcy w Mławie
woj. warszawskie

ŚWIADECTWO CHRZTU ŚW.
DLA CELÓW KOŚCIELNYCH

I put the place details on here in case it is significant to what the bag is.

Are these common? Any ideas on what the initials are? I always thought the one that says WG was for my Great Grandfather's initials. That leaves a mystery as to what the WS stands for though. His mother's surname didn't begin with "S".

I hope that someone here can help put a bit of history behind this family keepsake.

**UPDATE**
I can't seem to upload the photos on here and it will not let me give an external link to my genealogy website that contains the photos. If you think you may know what this is... please reply to me and I will give you the link privately. Sorry about the inconvenience.

Thank you,
Shannon

I am not sure where it is attached

Let's see if I can attach them now...

Thanks,
Shannon

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  Coin_Bag_Crown.jpg
  
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  Coin_Bag_Initials.jp.jpg