A systematic study of coins, medals or paper money and related material is called numismatics. Numismatics also includes an analysis of the materials out of which coins are made, their fabric shapes and sizes, metrology etc. and for a historian using numismatic evidence, the inscriptions, designs, signs and symbols are of greatest fascination. A coin is a piece of metal stamped and issued by the authority of a government for use as money where as medals may be issued by the state or any private authority for commemorational purposes. Here, in this research paper I aim to throw light on a brief history of coins and medals, their technique of production, similarities and dissimilarities between coins and medals and numismatic evidence in the Punjab with special reference to the Sikh period.