The squad of police went knocking early today in Tamworth's Maxwell Street, where they arrested a 38-year-old man and a 29-year-old woman on a raft of charges.

Inside the home, they uncovered ice, a stash of cash, a coin collection, as well as a precious rugby league medal reported stolen in September.

Oxley Detective Acting Inspector Jason Darcy told the Leader it was part of the Strike Force Kunderbung operation released last week.

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"Police will allege the pair did not take notice of police actions, and we will allege continued to be involved in criminal activity in the West Tamworth area," he said.

"The activity resulted in a search warrant being executed and a 38-year-old male being arrested, along with a 29-year-old female."

The raid saw a secret police squad including the proactive crime team, the dog squad and the Operation Support Group (OSG) surround the Maxwell Street home.

Detective Darcy said police seized a quantity of methylamphetamine and a quantity of cash suspected to be proceeds of drug dealing.

"This was a significant police investigation and the operation continues to target those supplying the drug ice in the West Tamworth area," he said.

"There are more arrests to come, and we will continue to stamp out this activity in our community."

Oxley Sergeant Geoff Sharpe said police recovered a rare rugby league medal inside the house and had managed to track down its owner within hours.

"Police were really pleased to be able to reunite the stolen rugby league medal with the owner who was hugely appreciative," he said on Wednesday.

"That item was reported stolen during a break-and-enter in South Tamworth in September.

"A quantity of collectable coins were recovered during the search warrant and police are conducting inquiries and investigating any links to previous break and enters.

"We would appeal for anyone who believes these items could be theirs to contact Tamworth police."

The 38-year-old man was refused bail and faces charges of supplying a greater than indictable quantity of methylamphetamine; knowingly dealing with the proceeds of crime, or cash; dealing with property suspected to be the proceeds of crime; participating in a criminal group; and two counts of possessing prohibited drugs.

The woman is facing charges of possessing prohibited drugs; goods in custody, namely the medal; possessing a weapon, namely a taser; and breach of bail.

The pair remained in police custody on Wednesday night. Investigations are continuing.

Last week, a Barraba man was refused bail after he was charged with supplying more than 800g of the drug ice across the Tamworth, Manilla and Barraba region.

Strike Force Kunderbung police swooped on Glenn Mervyn Hanrahan at a Fitzroy Street home in Barraba and allegedly uncovered $77,500 cash in the house.

His co-accused courier John Barry Carruthers is also accused of commercial drug supply and remains bail refused.

Carruthers allegedly had 112g of ice stashed in a box, hidden under his vehicle which was stopped about 7.30am on December 2 en route to Barraba.