The Parkes Weber Prize and Medal was instituted in 1954 through the generosity of the late F. Parkes Weber, and is under the administration of the Council of the Society.

It is awarded for an original essay of not more than 5,000 words on any subject relating to coins, medals, medallions, tokens or paper money. Competitors should choose their own subject, but may seek guidance if they wish.

• The value of the prize is currently £150, with the prize-winner also receiving Dr. Parkes Weber's portrait medal by Frank Bowcher.
• Competitors may be of any nationality, but must be under the age of twenty-three on the final day of entry, 31 August.
• The essay should be clearly written or typed in English on one side of the paper only and should be sent to the Hon. Secretary. The award will normally be announced in December of the same year.
  
• The Council of the Royal Numismatic Society reserves the right to make no award in any given year, if entries are not of a sufficiently high standard. The award shall not be made to any candidate who has won it previously.