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After a loss in the Iron Banner you receive a medallion. You can hold up to five of these at a time, the next time you win a match the medallions boost your reputation points earned for the win. It helps make up for losses and give, it was introduced to give people an incentive to stay the duration of a game even when loss was certain.
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Thanks guardians.
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You can collect up to 5 and each one gives you the exp you would've got if you won the game you go the medallion from... So if you can collect five and win it'll b like winning 5 games cuz bungie knows finding competent people in Controlis impossible however if you get to 5 and lose the 6th game they all disappear