Custom medals are a staple of every event. But how much do they cost?
Curious about the cost of a custom medal? You're not alone - it's the number one question people ask us! But pinning down the answer is not easy. Like most custom-made products, the cost of medals changes with each order because each one is tailored to an event's individual needs.
Because of this, prices can range anywhere from US$0.35 to US$7.20 each - and that's before you throw in extras.
In this article, we will take you through what these extras are and how they impact the price of medals. Why? Because at Badges And Medals, we believe in providing customers with clear, direct answers. We've helped thousands of events stick to their budgets over the last 50 years and want to help you do the same by providing the answers the following questions:
- What factors influence the cost of custom medals?
- What design features impact the cost of custom medals?
- What factors don’t influence the cost of custom medals?
- What is the easiest way to calculate the cost of your custom medals?
We hope that by the end of the article, you walk away with a realistic idea of what your new medals will cost.
What factors influence the cost of custom medals?
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Whether you want a presentation box:
For a more luxurious presentation, medals can be displayed in velvet or vegan leather boxes. These boxes, which cost about US$10.80 each for a set of ten, are designed to fit all medal sizes. They feature a satin lining inside the lid and a velvet base where the medal rests.
Alternatively, cardboard boxes present a more cost-effective and eco-friendly option. Priced at between US$6 and US$7.20 per box for a set of ten, these boxes are recyclable and still offer a decent level of luxury.
The customisation of these boxes is often included in the price. This includes adding your logo on both the top and inside of the lid and setting a plaque with the recipient's name under the medal.
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Whether you choose plain or custom ribbons:
You can usually choose whether your medal has a custom or plain ribbon.
Plain ribbons come in one or two colours, offering a simple look. Custom ribbons can have any colours, text or design features you'd like, making them a great way to communicate the theme of your event or compliment the medals.
Despite their differences, their unit cost is surprisingly similar, at US$0.65 each.
However, custom ribbons come with a setup fee. The fee covers the extra effort needed to program your design into a supplier's machines, which takes time and skill. It stays the same regardless of how complex your design is or how many colours it uses. At Badges And Medals, the setup fee for custom ribbons is about US$23.
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The supplier's setup fee:
Suppliers often also charge a fee to cover creating a custom medal mould; however, this fee is usually charged just once because the mould is reusable. At Badges And Medals, this fee is about US$85.
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The number of medals you order:
The larger your medal order, the more you save. When you order a large quantity of medals, medal suppliers can use their resources more efficiently and reduce overhead costs such as rent, utilities, and salaries. They then pass these savings on to you. In other words, individual medals cost more on smaller orders than on larger orders. Think of it like buying in bulk at the grocery store!
Just take a look at how different order amounts change the price of a larger metal medal with a custom ribbon from Badges And Medals:
- 500 medals = around US$3.20 per medal
- 5000 medals = around US$1.90 per medal
- 50,000 medals = around US$1.20 per medal
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The level of customisation:
The biggest perk of custom medals is the ability to customise them to make them truly unique. Most of these features will affect the price of your custom medals, some increasing it and others decreasing it.
Let's explore these features:
What design features impact the cost of custom medals?
Absolutely, customising a medal will change its cost, because you’re changing the complexity of a design and the amount of resources required for production. Here are some common customisation options and how they might impact the base price of a medal:
Medal material:
Typically, metal medals are crafted from zinc alloy, sometimes with a touch of brass or copper to enhance strength, or from brass, a blend of copper, zinc, and tin.
It's impossible to tell between a zinc alloy medal and a brass medal just by looking at them; all metal medals are plated to give them their gold, silver or bronze colour, which hides the metal beneath. The real difference is noticeable only upon handling them - brass medals are the heavier of the two.
People tend to choose brass when they want a medal that feels more high-quality, because it’s heavier. However, brass medals are generally 20% to 30% more expensive than those made of zinc alloy, because brass costs more as a material. Zinc alloy medals are the more popular choice.
Medal size:
Metal medals come in a range of sizes, the most popular being 50mm wide and 70mm wide among medal suppliers. There isn't a reason why these are the most popular sizes - it's just the unspoken standards.
A smaller medal will cost you less than a bigger medal as it's made from fewer materials. For example, a hundred 50mm medals are 28.5% cheaper than a hundred 70mm.
Medal thickness:
The industry standard for medal thickness is 3mm. Increasing the thickness of a medal to 4mm or 5mm is a simple yet effective way to add weight, which enhances the perceived quality and prestige of the medal.
While this might sound like a minor change, it does impact the cost. Upping the thickness to 4mm results in an approximate increase of US$0.06 per medal, while going for 5mm thickness leads to around a US$0.20 increase per medal.
Enamel:
Enamelling is a decorative technique used to add vibrant colours to a medal to make it stand out. Adding enamel increases the price of your medal because the process takes skill and involves high-temperature fires.
But it's not the number of colours that determines the cost. Instead, it's the total volume of enamel used in the design. For example, a 50mm wide medal with a face covered in enamel will cost US$0.25 to US$0.30 more than one with none.
Medal cut-outs:
A medal cut-out is a design feature where parts of the medal are removed to create negative space. They’re used to add depth or highlight parts of a medal's design.
Despite their apparent complexity, cut-outs don't usually alter their cost. This is because each custom medal requires a custom mould, regardless of its design. Creating these moulds takes the same time and skill, whether for a solid shape or one with cut-outs.
It's only when you order a large amount of cut-outs that you reduce the cost of your medal because the amount of metal used decreases. For example, at Badges And Medals, you can reduce a medal’s cost by up to 10% by including cut-outs.
Special features:
Incorporating unique features such as bottle openers or magnets into a medal adds a touch of fun but influences their cost.
Magnets are particularly popular with event organisers because they double as a marketing tool when stuck to items like refrigerators. The cost of adding a magnet to a medal falls between US$0.10 and US$0.15 each. This price varies depending on the medal's size, which goes on to dictate the size and strength of the magnet.
The cost of adding a bottle opener to a medal is also dependent on the size of the medal, as larger medals may need more complex alterations to make the opener functional. For instance, adding a bottle opener to a medal with a width of 60mm would typically cost between US$0.40 and US$0.55 per medal.
Medal engraving:
Most medal suppliers can engrave words onto the back of a medal using a laser. This creates a unique connection between the recipient and their medal. You can engrave whatever you fancy, with the most common choice being the recipient's name, their event, or their finish time. There are three ways to engrave a medal, each with its own cost implications:
- During production
Having your medals engraved as they're being made is the cheapest of the three options because it takes advantage of the manufacturing process that's already taking place. It costs about US$0.40 per medal. Orders of over a thousand medals cost suppliers less to engrave, dropping the cost to about 0.10 cents per medal. - Medal tabs
Sometimes you don't know details such as finishing times or names in advance, but you still want to personalise the medals. That's when medal tabs come into play. Medal tabs are small metal or metal-like sheets that are engraved, sent to recipients, and stuck onto the back of their medals post-event. They typically cost around US$1.10 per tab, plus a setup fee for the engraving equipment. At Badges And Medals, this fee is US$8.40. - Send back
The final option is to send the medals back to your supplier to be engraved post-event. The upside is that engraving directly onto a medal looks more lavish than using medal tabs. The downside is that this option has the highest cost and the longest wait. It costs between US$1.80 and US$2.40 to have each medal engraved. You will also have to cover the cost of posting the medals back to your supplier, their machine engraving fee, their cost of posting the medals back to you, and then posting them to recipients. At Badges And Medals, this setup fee is US$8.40.
What factors don’t influence the cost of custom medals?
While some aspects do alter the cost of your medal, some rarely do. Here are three features that won’t cost you anything on your custom medal order:
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Design:
When customers approach suppliers about custom medals, one of the first steps involves crafting a unique design. Interestingly, most suppliers do this for free. Why, you ask? Because it's a win-win for both parties. Customers feel more relaxed knowing they can explore design options and whether the supplier is right for them without shouldering the cost. For suppliers, this service builds trust and opens the door for business. After all, customers who are satisfied with their design are more likely to place an order.
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Medal shape:
It might come as a surprise, but the shape of a custom medal doesn't affect its cost. This is because all custom medals require a custom mould, whether round, square or any other shape. Creating these moulds is fairly standard in medal manufacturing, meaning that producing a medal with a custom shape doesn't demand more effort or resources than one with a standard shape.
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Metal plating:
Plating serves multiple purposes. Firstly, it allows you to pick an award colour that matches your event theme or goals, such as awarding gold medals for first place. Secondly, it can add texture to your awards, like giving them an antique look. It also protects awards from rust and wear.
While you might assume that different platings have different price tags, this is not the case. This is because the plating is often only a few microns thick, making the cost of the metals almost negligible. The more significant portion of the cost comes from labour, but this stays the same across all plating colours because the process does not change with the choice of finish.
What is the typical price range for custom medals?
Now that you understand what does and does not influence the cost of the medal, you can see why the price varies so much. It truly comes down to the particular medal you design for your event and how many medals you order.
On average, the base rate for a custom metal medal ranges from US$0.35 (for 50,000 small medals) to US$7.20 (for 100 large medals). This is before you throw in setup fees or customisation.
Here is a cheat sheet to make things easier:
What is the easiest way to calculate the cost of your medals?
Our comprehensive guide has detailed the various elements that shape the cost of custom metal medals, arming you with the knowledge needed to make a well-informed choice. However, the easiest way to know exactly how much your custom medals will cost is to use our free medal cost calculator. Just pop in the number and size of the medals you need, and you'll get your answer right away!