A standard challenge coin is 4mm thick. That is the default unless you ask for something else, and it is what most unit, department and corporate coins use.
Thickness does more work than people expect. It is most of what makes a coin feel substantial rather than cheap, and weight in the hand is the first thing anyone notices when a coin is handed to them. A 4mm coin at 1.75 or 2 inches has real heft.
Thicker options are available where the design calls for it. Added thickness suits deep 3D relief, which needs material to sculpt into, and presentation pieces where the weight is part of the effect. It also adds cost, because there is more metal in every coin.
Thinner than 4mm is rarely worth it. The saving is small and the coin loses the quality that makes it worth keeping.
Thickness interacts with diameter. A 3 inch coin at 4mm can feel slightly under-built, while a 1.5 inch coin at 4mm feels dense and solid. If you are going large, ask about going thicker at the same time.
Standard specifications in brief: 4mm thick, 1.75 or 2 inches across, in zinc alloy, brass, iron or copper.
See manufacturing options, or request a free quote with your size and design.