What are my medals worth?

What decides a medal's worth

Valuing medals is a skill, because a lot can change the answer. Two items matter most: how scarce the medal is, and what condition it is in.

Scarcity comes first. A medal that was issued in huge numbers is still around in huge numbers. A medal awarded only rarely is worth more. The Victoria Cross, the highest award for bravery, is the clearest case.

Condition comes next. A broken medal, a missing ribbon or an inscription that has been filed off will usually lower what a collector pays. The original papers and presentation box help. A medal with its paperwork and box is worth more than the same medal on its own.

The story behind a medal can matter too. Some collectors pay more for a medal awarded to a particular person, or for bravery. The lesson is to look into the history of yours before you decide anything.

A medal has to be seen to be valued. Be wary of anyone who names a price before they have seen it. The figure can change when the medal arrives, usually in an argument over its condition. We make our offer only once your box has arrived and we have looked at everything in it.

Auction sites and auction houses show what similar medals have sold for in the past, or what upcoming lots are expected to reach. That is a guide to potential, not the offer you will receive. Two medals that look the same can be valued differently. British commemorative medals, for example, tend to be worth less, because they carry no official recognition.

Medals from the First World War

There are two main kinds: campaign medals and gallantry medals. A campaign medal went to a serviceman or servicewoman who served in a theatre of war outside the United Kingdom. A gallantry medal was awarded for particular courage.

The most common First World War medals were nicknamed Pip, Squeak and Wilfred. They were the 1914 Star or 1914-15 Star, the British War Medal and the Victory Medal.

Campaign medals are very common, so they are not worth large sums. They still have value, and it rises when they are in good condition, kept together as a set, and come with their paperwork, boxes and ribbons.

Gallantry medals are scarcer, so some are worth a great deal. Collectors often prize them for the stories they tell, so find out about yours before you send it. Every medal issued in the First World War was recorded on a medal roll, and these can be searched online to learn who received a medal.

Medals from the Second World War

The Second World War follows the same pattern of campaign and gallantry medals. The War Medal went to anyone who served for 28 days in the armed forces. The 1939-45 Star is also common, and was available to those who completed six months of service. Other stars were issued for particular campaigns overseas.

Gallantry medals from this war tend to be worth more than the campaign medals, because they are scarcer. As before, the story behind the medal and its condition will shape the figure.

Before you send Second World War medals, look at the ribbon colours, which help to show which medal you have. Our guide to identifying a British campaign medal can help.

Boer War medals

Many medals from the Boer War have survived. They were issued between 1899 and 1902. Scarcity matters here as it does everywhere.

The Queen's South Africa Medal is the most common from this conflict, and plenty have lasted. It went to every member of the forces who took part, including the British Army, the Royal Navy and colonial forces. That makes it far from the rarest medal, but it still carries value.

Kinds of valuation, and what they cost

It helps to know which kind of valuation you need, because the wrong one can cost money and tell you nothing about a sale. An insurance replacement valuation says what you could claim if your medals were lost or stolen. A sale valuation says what you could receive by selling them. The two usually give very different numbers.

If you are selling, you need a sale valuation. Private sale valuations can vary. A buyer with an easy way to pass medals on to collectors is often able to offer more than a buyer without one.

Also check that the valuation comes with no obligation. With us there is none: your box is posted on a free label, we make one offer within seven days of arrival. We hold it for 14 days. Say yes on a working day and we send your payment the same day, once we have your details.

On cost, a valuation for insurance, probate or a family settlement is usually paid for. A valuation for sale is normally free, though an auction house may charge.

To find a valuation, choose the right type and ask every company whether it charges. Read reviews of any buyer you are thinking of using. People are often glad to share what went well or badly. Some companies also give plenty of information online.

Are war medals worth money?

Yes, they are, though how much depends on many items. Medals in great condition are worth more than damaged ones, and original papers and presentation boxes add to that. Rare medals can be worth a lot and common ones less. A common medal can still be valuable if it belonged to someone of historical interest.

Like most collectable items, a medal is worth what the collectors' market will pay for it, which makes it hard to value. The more you know about yours, the easier it is to find a collector who wants it.