Lapel pin
A lapel pin is a small pin often worn on the lapel of a jacket. Lapel pins can be ornamental or can indicate wearer's affiliation with an organization or cause. Before the popularity of wearing lapel pins, boutonnières were worn.
Medal
A medal or medallion is a small portable artistic object, a thin disc, normally of metal, carrying a design, usually on both sides. They typically have a commemorative purpose of some kind, and many are given as awards. They may be intended to be worn, su
Challenge coin
A challenge coin is a small coin or medallion, bearing an organization's insignia or emblem and carried by the organization's members.
Keychain
A keychain (also key fob or keyring) is a small ring or chain of metal to which several keys can be attached. The length of a keychain allows an item to be used more easily than if connected directly to a keyring.
Challenge coin
Modern day challenge coins feature popular culture attributes. Modern challenge coins are made in a variety of sizes and are often made using popular culture references to include superheroes and other well known characters in a way that creates a parody.
Origins
There are several stories detailing the origins of the challenge coin. Many originate in popular culture based on current events.
The Roman Empire rewarded soldiers by presenting them with coins to recognize their achievements.
Prior to actual Challenge Coins being minted, soldiers who acted bravely in battle would be rewarded by comrades or superiors by buying that individual a drink. They would give that soldier a coin to buy the drink but more commonly, they would make a spectacle by slapping it down loudly on the bar or presenting them a coin in an informal group setting. Receiving a coin from an officer was generally a considerably more valuable coin and rarely presented.
Challenge coins were also known as "Portrait Medals" during the Renaissance, and were often used to commemorate specific events involving royalty, nobility, or other types of well-to-do individuals. The medals would be given as gifts or awards, and people also exchanged them with friends and associates. The most common format was for one side to depict the patron while the other showed something that represented that individual's family, house, lineage, and/or seal.
Appearance
There are many finishes available—from a simple pewter to 24K gold. While there are only a few base metals, the patina (finish) can range from gold, silver, or nickel to brass, copper, or bronze—plus the antiqued variations. Soft or hard enamel or a printed inset with an epoxy coating may add color (the epoxies are often more resilient and scratch resistant than the metal surfaces).
Cost
Challenge coins are moderately inexpensive to design and produce. There are two basic processes by which to manufacture: zinc-alloy castings or die struck bronze.
Zinc alloy castings offer the advantage of low cost. Zinc casting also allows more flexibility in design like cutouts found on spinner coins or bottle opener coins. While a die struck bronze or brass coin is more expensive, the result renders a far superior product (numismatic quality).
As of 2010, coins manufactured in China and South Korea typically cost between US$2.50 to US$7.00 per coin, depending on production process and complexity of design, laser engraving, enamels, voids, etc. The dies must be sculpted by an artist and can range in cost from US$50 to US$300, depending on complexity. The cost of domestic manufacture can be many times this amount.
Uses
Besides using coins for challenging, they are also used as rewards or awards for outstanding service or performance of duty. As such, they are used as a tool to build morale. Military officials occasionally give them to non-military personnel for outstanding service or rewards, like the case of student athletes at Northeastern University.
Some collectors buy them for their numismatic value.
Coins given as awards for accomplishments are normally given to the recipient during a handshake, passing from the right hand of the giver to the right hand of the awardee. It is also normal for the giver to offer a brief explanation of the reason for awarding the coin.