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Medals are similar to commemorative coins in their way of production, in material or in form, but can not meet the requirements of a legal tender, since they have no face value granted by an authority.
They are struck for commemorating anniversaries, significant events, special social occasions, etc.
A speciel type of gold medals is the investment gold medal (form of a gold blank) produced in 1 and 1/2 ounce weight of fine gold. The prices of these investment gold blanks depend on the changes of the gold price of the world metal stock exchanges, and contain only a small profit marge over the metal content and the production costs.