If I remember correctly theymos said a while back that coding badges in such a way so that people could have the option to display or not display the badge would be difficult.
I don't believe that for a minute--even though I'm not a coder. If those gold coins can be put under every member's rank, I seriously doubt Theymos (who is very intelligent and has a lot of resources) wouldn't be able to give members some sort of badge. Plus he did exactly that for the forum anniversary art contest winner if I'm not mistaken.Its different because the art contest winner badge displays whether the user wanted it to or not. There was an art contest for reporter badge design three years ago, so that part has already been taken care of. Here's what I was talking about:
still waiting for it 
Sorry for the wait, when I went to implement this it ended up being quite a bit more of a can of worms than I originally thought because of opting out, preventing certain report-count-padding strategies, etc. It's still on my to-do list, but there are several things above it.