Source : Webster's Revised Unabridged Dictionary (1913)

Medallion \Me*dal"lion\, n. [F. m['e]daillion, It. medaglione,
   augm. of medaglia. See {Medal}.]
   1. A large medal or memorial coin.

   2. A circular or oval (or, sometimes, square) tablet bearing
      a figure or figures represented in relief.

Source : WordNet®

medallion
     n 1: any of various large ancient Greek coins
     2: a circular helping of food (especially a boneless cut of
        meat); "medallions of veal"
     3: an emblem indicating that a taxicab is registered
     4: an award for winning a championship or commemorating some
        other event [syn: {decoration}, {laurel wreath}, {medal},
        {palm}, {ribbon}]