From Destinypedia, the Destiny wiki
Each Sigil possess three sections: Two for keeping score during Challenge of the Elders, and one to inform the player which modifier is active and awards more points. The two sections a player must fulfill in order to redeem the card for loot are "High score" and "Cumulative Score". "High Score" requires the fireteam to obtain a total score of 30,000 points in one playthrough and rewards a weapon, and "Cumulative Score" which requires a total score of 90,000 points over multiple runs and rewards armor. When either section is completed, Guardians can return to Variks and receive their rewards.
An Elder's Sigil is only valid between resets. If an Elder's Sigil remains in a players inventory past reset, it becomes an Expired Elder's Sigil which reads "Obtain this week's Elders' Sigil from Variks."
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