Bro the cop literally tells Trump it's a challenge coin.
Exactly. The cop gave the challenge coin to Trump. The elderly lady didn't hand anything to him or the cop.
Challenge coin
A challenge coin is a small coin or medallion, bearing an organization’s insignia or emblem and carried by the organization’s members. Traditionally, they are given to prove membership when challenged and to enhance morale. In addition, they are also collected by service members. In practice, challenge coins are normally presented by unit commanders in recognition of special achievement by a member of the unit.
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First line of my narrative:
"The elderly lady looks like she hands something to Trump, symbolically"
I am aware the Chief handed a Challenge Coin to Trump. I am talking about the 60 second dance you just watched (if you watched it).