The medals for Physics, Chemistry, Physiology or Medicine and Literature were modeled by Swedish sculptor and engraver Erik Lindberg while the Peace medal was designed by Norwegian sculptor Gustav Vigeland.

The medal for The Sveriges Riksbank Prize in Economic Sciences was designed by Gunvor Svensson-Lundqvist. The face of the medal of the Norwegian Nobel Committee shows Alfred Nobel in a pose slightly different from that of the other medals. The inscription is the same.

The inscription in Latin reads, "Pro pace et fraternitate gentium" which means "For the peace and brotherhood of men". The other side of the Nobel Peace Prize medal represents a group of three men forming a fraternal bond. "Prix Nobel de la Paix", the year of presentation, and the name of the Prize Laureate is engraved on the edge of the medal.

The front side of the three Swedish medals (Physics and Chemistry, Physiology or Medicine, and Literature) is the same, a portrait of Nobel and the years of his birth and death in Latin NAT-MDCCC XXXIII OB-MDCCC XCVI.

The main inscription on the reverse side of these three medals is also same: "Inventas vitam juvat excoluisse per artes," while the images vary according to the symbols of the respective prize-awarding institutions.

The Economics medal has no quotation at all on the reverse. Till 1980, the Physics and Chemistry, Physiology or Medicine medals weighed approximately 200 gm had a diameter of 66 mm, and were made of 23 carat gold.

Since then they have been made of 18 carat green gold plated with 24 carat gold.

On the Physics and Chemistry, Physiology or Medicine medals, the name of the Laureate is engraved fully visible on a plate on the reverse, whereas the name of the Peace Laureate as well as that of the winner of the Economics Prize is engraved on the edge of the medal.

The Nobel medals were cast by the Royal Mint of Myntverket in Eskilstuna in Sweden from 1902-2010.

In 2011, the medals were cast by Det Norske Myntverket (Mint of Norway) in Kongsberg, Norway. Then after the medals were made by Svenska Medalj in Eskilstuna in Sweden.

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