engrailment

from The Century Dictionary.

• noun A ring of dots round the edge of a medal.
• noun In heraldry, the state of being engrailed; indentation in curved lines.
• noun Also written ingrailment.

from the GNU version of the Collaborative International Dictionary of English.

• noun The ring of dots round the edge of a medal, etc.
• noun (Her.) Indentation in curved lines, as of a line of division or the edge of an ordinary.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

• noun The ring of dots around the edge of a medal, etc.
• noun heraldry Indentation in curved lines, as of a line of division or the edge of an ordinary.