Black Company badge
From Glen Cook Wiki
A small badge displaying the Company emblem (a silver skull with elongated canines breathing fire in a silver circle, with one glowing eye, on black). It is usually crafted from silver and ebony, with a ruby used for the eye.
History: North
In the first book, the skull emblem is actually the symbol of Soulcatcher. All the Ten Who Were Taken issue badges with their personal symbols to key troops and personnel; Soulcatcher gives the Company their badges when they board the Dark Wings and take service with the Northern Empire. These badges are also enchanted so that the Taken can locate them from a distance. Initially, the Company is reluctant to adopt the badges (e.g. when Raven joins the Company, only the Captain is wearing his). After Soulcatcher is beheaded, the Company continues to use the skull emblem and, apparently, the badges, though they replace the enchanted originals with new copies over time, made "wherever we can get them done".
History: South
As the Company moves south and membership turns over, the badges acquire more significance to many soldiers. They are collected from fallen members of the Company and regifted to new recruits. Some badges belonging to older veterans are hoarded by the survivors who vow to carrry the badges to Khatovar for their fallen brethren; Otto and Hagop reportedly have a few dozen of these. When it is not possible to make the badges, new recruits (and some wannabes) in the Shadowland wars create crude copies.
Miscellaneous
The badges are listed in the "Magical artifacts" category because the original versions are enchanted by Soulcatcher. There is no evidence, however, that they are systematically enchanted in this manner at any point thereafter. It is also not known if the original enchantments lose potency over time. A few of Soulcatcher's original badges could conceivably survive through the entire series, but she never tries to use them to locate the Black Company. It is possible she doesn't know that any are left and hence doesn't try.

