Issued to all those with either the 1914-1915 Star or British War Medal or both, but never on its own, some six million are believed to have been produced. The Victory Medal was struck in bronze. ‘Mentioned in Despatches’ oak leaf was attached to this ribbon if awarded. It is oftern known as the Allied War Medal because the same basic design and double rainbow ribbon were adopted by thirteen other Allied nations (through the USA alone issued it with campaign clasps). The Union of South Africa produced a version with a reverse text in English and Dutch (not Afrikaans as is often stated).

It is estimated that about 336,000 Victory Medals awarded to Australians who served during the First World War. Medals issued to members of the smaller units such as the AFC and the RAN and the Australian Naval and Military Expeditionary Force are highly prized.

The Mention in Despatch is worn with the medal and is affixed to the centre of the ribbon at an angle of sixty degrees from the inside edge of the ribbon,  Available as a separate item