Japanese Coin

First of all you'll have to start off by creating a new document. I used size of 500x500 for this tutorial. Fill it with a white color.

Ok, let's start by making a shape with Ellipse Tool.

Then apply the Gradient Overlay and Stroke layer styles to get the picture like this:

After that select this shape with Select > Load Selection, create new layer and fill it with a black color. Apply Filter > Noise > Add Noise with similar settings to these:

Set up layer mode to Color Dodge. Now we have something like this:

Use Select > Modify > Contract to contract selection about 15 pixels, then create new layer, select the Gradient Tool while holding down the Shift key click and drag the linear gradient with colors of # ddc887 and #605432.

After that apply Filter > Texture > Texturizer with similar settings to these:

Now we have something like this:

Then apply the Inner Shadow, Inner Glow and Stroke layer effects for this layer.

Merge all layers of coin in one. The next step what we need to do is to make a hole inside of coin. Select Rectangular Marquee Tool and make selection like on picture below, then fill it with a white color. Press Ctrl+D to deselect it and apply the Stroke layer style.

After that, go to Layer > Layer Style > Create Layer to get this layer style separate from layer. Now select our layer again with Select > Load Selection, then go to coin layer and delete selected area on it. Press Ctrl+D to deselect area and delete layer with white rectangle. We don't need it more.

Go back to the layer with gradient and apply the Drop Shadow, Inner Glow layer styles.

Now we need to bring some shadow to inner part of hole for coin. Select Rectangular Marquee Tool to get the selection like on picture below and fill the selection with Black to Transparent gradient.

Deselect image with Select > Deselect. Now time to bring a couple of symbols to coin. We can do this by using this Japanese brushes. Create new layer and bring a couple of hieroglyphs to this layer. Now we have something interesting like this:

For the metallic effect apply the Drop Shadow, Bevel and Emboss and Color Overlay layer styles. Then merge all layers of coin in one.

Now, using the Dodge Tool with moderate settings (Highlights, 30%) do a little bit of dodge-work on our coin.

Ok, it's time to add shadow. Create new layer and make selection by using Elliptical Marquee Tool. Fill this selection with a black color.

Press Ctrl+D to deselect area and apply Filter > Blur > Gaussian Blur with similar settings to these:

Now your image looks similar to mine.

After that press Ctrl+J to duplicate layer, then press Ctrl+F five of times to apply Gaussian Blur Filter again. Then go back to previous layer and transform it using Edit > Free Transform as on picture below:

And there we go! Ok, to finish off with wallpaper I think we should add some gradient, graphic elements (by using Japanese Brushes cited above) and text in the background.

Looking great! Isn't it?