A monster medal is a collectible item in the Game Boy Color remake of Dragon Quest III. It is randomly dropped by enemies after a battle, similar to finding a treasure chest. Monster medals come in bronze, silver, and gold.
A medal can only be dropped by the last monster defeated in battle. It can also only be dropped if a treasure chest is not also found. Therefore, it is best not to have a Thief in the party as that increases the chances of finding a chest. Medals must be obtained in an ascending order. The player must have a bronze medal of a certain monster before there is any chance of obtaining a silver medal, etc.
Obtaining medals from boss monsters is impossible by normal means as most bosses are only fought once. However, many boss monsters appear as wandering monsters in the 2 bonus dungeons, allowing the medals to be collected. Other boss medals are obtained via wishes from Xenlon.
Bronze medals can be converted to silver medals in the second bonus dungeon. A man there will offer to convert 2 bronze medals into 1 silver medal for no additional charge.
Medals are only useful in the second bonus dungeon. They are used to determine if the player is able to continue to deeper floors of the dungeon. In order to proceed to the 2nd basement, the player must have a bronze medal for all available monsters up to that point. On the 2nd basement, 8 new monsters exist. Silver medals for all available monsters, including these new 8 monsters must be obtained prior to being given access to the 3rd basement. On the 3rd basement, the player is able to battle Grand Dragon, the final boss and most powerful enemy in the game.
Monster medals are difficult to collect due to their rarity. This is especially true of gold medals, as the player must obtain atleast a bronze and silver medal prior to being able to receive a gold medal. Grand Dragon challenges the player to collect all the gold medals, only then will he challange you to a rematch in which if you beat him under a certain number of turns he will reward you with the most powerful weapon in the game, the Rubiss Sword, which sports a whopping +200 ATK that anyone can equip & if used as a item in battle produces a free Thordain spell. This is contrasted with being given access to new dungeon levels, monsters, and equipment for the bronze and silver medal sets.
Monster medals can be traded among Dragon Quest III game paks using the Game Boy Color link cable.
A complete set of monster medals for Dragon Quest IV also exists on the Dragon Quest III game pak. This set of medals is only viewable using some sort of cheating device. It is hypothesized that Dragon Quest IV was originally intended to be included on the game pak as was done with Dragon Warrior I & II. However, at some point these plans were changed, but the set of medals was left hidden on the game's rom. Dragon Quest IV would later be remade on the Nintendo DS. However, no monster medal system would be included in the game.