While on board the TJ, the crew had participated in squadron training practice. After winning two of these there was a red E with two hash marks below on the stack. Upon winning three of these games in a row, there was a gold E painted on the stack. I thought that this Gold E was to stay with the ship from then on. I missed seeing that E on the stack. I am sure that all her crewmembers were as proud of that E as I was.
The “E” and any hashmarks are removed in the year the ship first fails to win the award.
– quoted from Wikipedia.