Museum was open in 1965 as a unique unit specialised in Metal engraving arts. Despite from collecting exhibits the museum produces its own medals. For 30 years of its existence it has created over 100 medal titles, designed by artists cooperating with the museum. Museum presents medals and sculptures.
Museum offers enormous medal collection. There are three departments: Polish medals, medals and decorations, and foreign medals. Museum offers library as well and runs educational and publishing activity.