Start with a new RGB image and draw a circle with marquee tool. Fill it with 50% grey. (edit/fill/50% grey)

Add a new layer and stroke the selection by 5 pixels. Use the inside location

Now, open the file made in CorelDraw or Illustrator that you have created for this purpose, and copy and paste it in the center of the circle.
If you don't know how to create "curved text" check it out here.

Apply the Stylize/emboss filter with the settings shown here to the left.

Now, apply the layer effect outer glow and use black as fill color.

Go to the layer with the big grey circle and add noise with amount 6-7. Mark the circle and apply render/lightning effects as shown here to the left. Use blue as texture channel and with height 6.
Do the same on the layer with the stroked circle and also apply drop shadow on that layer with depth 3 and blur 3

Now, merge all layers except the background layer. Mark the coin and apply the lightning effect with the settings shown here to the left.

Add some color to it by using the image/adjust/hue/saturation and the resize it to a appropriate size.
And this is the final result.