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1.
A Medallion is a middle aged, hard living, caucasian man. They are typically found throughout the southwest and particularly where gambling and smoking in restaurants is legal, i.e.. Tahoe, Vegas, Reno, Tucson, Phoenix. They tend to be badly weathered from the sun and shirtless wherever permitted. Their name comes from the medallions they sport around their necks, usually a memento from one of their favorite gambling towns. These are sometimes accompanied by ridiculous turquoise rings and bracelets. Medallions are all chain smokers (meth, cigarettes, crack, carpet) and heavy drinkers (thunderbird, malt liquor, box wine, everclear, paint thinner)
" I can't park at the meter, I gave that Medallion at the 7/11 all my change!"
by Coates45 April 27, 2009
 
2.
a fairly large, silver chain..used in ghetto gangs containing black people with bandanas. a must have in gangs.
Nell'ys number 1 medallion
Ruff Ryders medallion
by Mike Cassidy May 08, 2003