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Beedle is selling an item with the name Life Medal. Beedle has no idea what it does, but he's selling it for 800 rupees, which is quite a bit of rupees.

What does the Life Medal do?

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Making money becomes pretty easy once you are able to go to Fun Fun Island, but that's quite a ways off though from your point. – Jeff Mercado Nov 21 '11 at 0:34
up vote 7 down vote accepted

According to this wiki:

The Life Medal adds a single Heart Container to your life bar at the expense of an Adventure Pouch space.

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