With any inanimate object, you have to tell a story. In this case the artistic decisions you've made make it challenging at best for me to understand the story. I'm a big fan of shallow DOF. In this shot it doesn't really add to anything, and it actually distracts from a potentially good shot. I'd shift the angle a bit to get more of a head on shot. Lose the pin on the left since it's not telling the story. COnsider adding a photo of the recipient if possible. Put a face on the story. Use an old CG uniform as the backdrop? The lighting also has a very amber cast to it. You might want to check your white balance and make some adjustments.
Nice concept. I think too many of the medals are out of focus. Just a tad more DOF to bring a couple more into focus and to make those first ones somewhat recognizeable.
The focus seems to be on the edge of the last medal so the other end is out of focus and the next closest edge is more in focus. could have focussed on the center of the last to just keep that one in focus... I am not sure if I explained it clearly though.
Nice work..