Situated 18kms from the city, Koyikal Palace is a two storied palace at Nedumangad which is on the way to the Ponmudi hill station and the Courtallam Water falls. It is one of the ancient palaces belonging to the erstwhile Venad dynasty, built by 'Umayamma Rani' during the 15th century in the traditional Nalukettu style.  Today, this palace houses Asia's biggest Folklore Museum (1992) as well as a Numismatic (Coin Collection) (1990) Museum set up by the Department of Archaeology.

The Folklore museum said to be India's biggest folklore museum houses many ancient musical instruments and models of folk arts. 'Chandravalayam' (a rare percussion instrument) used in epics like Ramayana, 'Chilambu' (anklet) and 'Thaliyola' (old manuscripts) used by Umayamma Rani  are also on display here. The museum also has a number of household utensils made in brass and copper that were used in ancient times.

The Numismatics museum which is Kerala's first numismatic study center, has  a vast collection of coins from different eras. Coins used by various Indian rulers namely the Nizam of Hyderabad, Hyder Ali and Tipu Sultan, the Gwalior royal family, and a collection of Roman coins over the period of AD14 to AD 180 are exhibited here. World's smallest coin, Rasi, an ancient coin belonging to the Venetian era ( this coin is believed to have been presented to Jesus Christ) are also on display here. 
Visiting hours: 9:00 am to 5:00 pm on all days. Monday Holiday.