 In 1901, the first Inauguration Committee on Medals and Badges was established as part of the official Inauguration Committee for the re-election of President McKinley.The Committee saw official medals as a way to raise funding for the festivities.Gold medals were to be produced as gifts for the president, vice president, and committee chair; silver medals were to be created and distributed among Inauguration Committee members, and bronze medals would be for sale for public consumption.