Token-medal. A coin-like medal; single struck and without finish. A token-medal is a usually cheaply made medal often on equipment normally used for striking tokens. Token-medals are made as souvenir or pocket pieces. It is a medal because it does not have a denomination or indication of value. While its design is usually more pictorial than customary tokens, the design is usually limited to what can be accomplished by a tracer controlled pantograph. Only in rare instances were token-medals made from sculptor's models and reduced on a die-engraving pantograph. Thus the relief is usually much lower and its striking is geared to quick production in common metals. Often they are made in a stock size for tokens (never more than two inches); and its finish is usually bright coin finish. It is often classed as a souvenir medal; and some more important ones in silver-dollar size have been designated a so-called dollar. See art medal.

Early in World War II a number of token-medals were struck for organizations to give to men and women entering military service. Their inscriptions were patriotic and intended to be carried as a good luck charm.