Webster's English Dictionary

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medal

med.al \'med-*l\ n [MF medaille, fr. OIt medaglia coin worth half a 
   denarius, medal, f]r. (assumed) VL medalis half, fr. LL medialis middle, 
   fr. L medius - more at MID 1: a metal disk bearing a religious emblem or 
   picture  2: a piece of metal (as a coin) issued to commemorate a person or 
   event or  awarded for excellence or achievement