In 1947 the Society decided the establishment of a reward medal, and asked Madarassy Walter for the drafts. The artist prepared the draft, but the implementation had to wait for 13 years. In 1960 the Numismatic Department began to prepare the 60th anniversary celebration of the foundation of the Society. Then the idea of an Award Medal came up again "to honor on one hand the lifetime honest and effective work for the Numismatic Department, and on the other hand numismatic and medalic art academic work or numismatic related graphics workers." Walter Madarassy revised the 1947 draft, and the Board approved it at its meeting held on May 12, 1960.
The diameter of the cast medal was 60mm.
The Award Medal was first donated in 1961. Rewarded people: Leszih Andor (1961), Reményi József (1962), Horváth Tibor Antal (1964), Ferenczy Béni (1966), Huszár Lajos (1967), Zák Ede (1969)
Obverse
SOCIETAS HVNGARORVM NVMISMATICA 1947.
Crowned Minerva holds a flag on a rod.
Reverse
STVDII NVMISMATICI CVLTORI.
Laurel wreath frames the middle field where the name and the winning year is engraved.