A discrimination medium, which can have much information, can be produced on a small scale at low cost, and enables change of a sticker design at low cost, is provided. A cholesteric liquid crystal layer, having a fine asperity for forming a hologram, is formed on a transparent first substrate. A print layer composed of a black ink is formed on a transparent second substrate. The substrates are affixed to each other via a bond layer, so that a discrimination medium is obtained. In the discrimination medium, the display content obtained by the print layer is changed, so that the display content for discrimination can be changed at low cost.