Oklahoma became the 46th US state on November 16, 1907; it was formed from the Oklahoma Territory which existed from May 2, 1890, until the date of Statehood. The medal presented here was Issued in conjunction with the 50th anniversary of Oklahoma's Statehood; it was the lead piece among a number of coin-like medals and tokens issued for the anniversary.
A major catalyst for the statehood drive was the mass influx of settlers of mostly European-descent that took part in the Oklahoma Land Rush of 1889. The Land Rush was authorized by US President Benjamin Harrison; it made approximately 1.9 million acres of the Indian Territory available for little cost to "white settlers." On April 22, 1889, at exactly noon, signals were sounded at the Indian Territory's borders and the 50,000+ settlers that had gathered were allowed to enter the Territory and stake claim to future city lots and farm plots. Additional land "rushes" were staged, but the 1889 Rush is where it all began.
1889 Oklahoma Land Rush Mural by John Stewart Curry
(Image Credit: Image Courtesy of Library of Congress Prints and Photographs Division, http://www.loc.gov/photos Laura Gardin Fraser is the designer/sculptor of the commemorative medal shown, but it was not her first high-relief depiction of the 1889 Land Rush. The Oklahoma City Fairgrounds commissioned
James Earle Fraser to create a large, relief panel for the 1889 Land Rush. Unfortunately, James was near death at the time, and had only created initial designs for the project. He asked his wife, Laura, to step in and see the project through to completion. Though Laura had largely completed the task in 1955 - in time for the Oklahoma Semi-Centennial in 1957 - disagreements over the panel resulted in it not being delivered until after Laura's death in 1966. The panel is currently mounted in Oklahoma City's Bicentennial Park; it is called
Run of 1889.Run of 1889 Panel in Fraser Studio
The obverse of the medal depicts just a small portion of the 20-foot panel and its 250 figures (an area from the panel's far right). The design presents settlers on horseback and in a wagon rushing to stake a land claim in the newly-designated "unclaimed territory."
The medal's reverse features two standing male figures, both facing left. The leftmost figure represents
Energy and Progress, and is shown holding and surrounded by symbols of harvesting, mining, animal husbandry and power. The other figure represents
Imagination and Vision and is shown looking skyward with outstretched arms.
The central devices on the reverse are encircled by the inscription above: "Oklahoma Semi·Centennial Exposition" and "Oklahoma City" below; the figures are flanked by the anniversary dates "1907 - 1957". In exergue: "· PROGRESS · VISION · " and an atomic energy symbol pierced by an arrow; a symbol of the Semi-Centennial Exposition representing "Arrows to Atoms" in the last fifty years.
1957 Oklahoma Semi-Centennial Medal

The three-inch medal was struck by the Medallic Art Company of New York in bronze and was available for $7.50 from the Oklahoma City Chamber of Commerce.
The medal took the place of the hoped for circulating commemorative US half dollar. You can read more about the attempt to get the commemorative half dollar here:
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What If? 1957 Oklahoma Statehood 50th AnniversaryOther of my posts about commemorative coins and medals can be found here:
Commems Collection.