The chronicles depict the scene of transferring it by Ivan the Terrible from Saint Sophia Cathedral to Moscow in the mid-16th century.

A legend, which appeared in the 18th century, said that Procopius himself prayed in front of Annunciation to be saved from beating with "stone hail".

To the contrary, according to the Chronicles of Ustyug, the fire of 1496 destroyed every icon and book inside the church, where the Annunciation was held.

[8] During the French invasion of Russia golden decoration and gemstones were stolen, and Veliky Ustyug's citizens donated eight thousand rubles to renew the icon.

[9] In 1933 Dmitry Aynalov tried to develop the proof based on the 1554 message of dyak Ivan Viskovatyi,[10] who mentioned Annunciation icon in connection with Novgorod's Yuriev Monastery (Church Slavonic: "да на оконе Благовещениа Святыя Богородици, вверху написанъ образъ Господа Саваофа… вземъ царь и великий князь в Великом Новеграде в Юрьеве Монастыре, а письмо корсунское, а как принесена из Корсуни, тому лет пятьсот и более").

[13][14] Viktor Lazarev marked the date of creation as 1119–1130, connecting icon's making with the building of St. George's Cathedral in Yuriev Monastery.