Israel Coins and Medals Corp. was established in 1958 by the Prime Minister Ben Gurion for the purpose of commemorating the historical events and milestones of the State of Israel, as well as its outstanding personalities and achievements in culture, science and art.

Until 2008, the Corporation was fully owned by the Government of Israel. During 2008, it was privatized. Throughout the years, since its inception until the present, the Corporation has strictly maintained its original character and values, just as Ben Gurion had envisioned.