Just as a medal acknowledges our prowess, from a spiritual perspective it reminds us to adhere to a spiritual code of conduct. Human beings both like and need to feel good about themselves. A medal in a dream acknowledges our talents and/or successes not just in the immediate moment but gives a permanent reminder of what we have done. A medal is often a reward for good work or for bravery, so when one appears in a dream it is recognition of our own abilities. If we are giving someone else a medal then we are honouring that part of ourselves represented by the dream character. You might also like to consult the entries for Badge/Brooch and Win/Winning.