In 1831, the Geological Society of London, the world's oldest geological society, instituted the Wollaston Medal, its highest honour, and possibly the most prestigious award for any geologist to receive. It is awarded each year for outstanding achievement in geology. The first Wollaston Medal, made of gold, was awarded to William Smith, see Appendix.

While made of gold for some years, the medal was made of palladium from 1846–1860 and again since 1930