I think that explanation makes sense.
I believe St. Lawrence was also a deacon of the church, so on the front, he is shown in holding a book, probably wearing the vestments of a deacon in whichever time period the medal was issued, and sporting a halo.
Here is an earlier depiction of St. Lawrence on an actual coin, a thaler form the German state of Wismar. He holds a brazier (kinda looks like a waffle iron).

I believe St. Lawrence was also a deacon of the church, so on the front, he is shown in holding a book, probably wearing the vestments of a deacon in whichever time period the medal was issued, and sporting a halo.
Here is an earlier depiction of St. Lawrence on an actual coin, a thaler form the German state of Wismar. He holds a brazier (kinda looks like a waffle iron).























