Details on Navy Commendations

So last New Years the Navy was given a commendation for defeating the Pirate Captain Blackheart. This commendation allows us to call “stand with Spirits” once per festival. I understand that this isn’t transferable; we can’t sell/trade/gift our medals to confer this benefit to someone else, BUT: Do we lose the ability ourselves if we’ve lost our medal prop? Can it be replaced?