On 22 December 1945, in War Department Circular 383, the United States Army decided to introduce the "V" device to distinguish the award of a Bronze Star Medal for acts of valor and heroism, rather than meritorious service.

[10] To be worn on a decoration, the "V" device must have been specifically authorized in the written award citation issued with the medal.

In 1996, the "V" device garnered public attention after the suicide of Admiral Jeremy Boorda, who was the Chief of Naval Operations.

The news media reported that his death by suicide may have been caused by a Navy investigation following a story by Newsweek about Boorda wearing two "combat valor pins" on the service ribbons of his uniform, which he received for duty as a weapons officer and executive officer aboard two naval ships off the coast of Indochina during the Vietnam War.

For the Army, the "V" was worn solely to denote "participation in acts of heroism involving conflict with an armed enemy".

[7] The "V" device is also authorized for the Air Medal by all the services where heroism in aerial combat was involved on an individual mission.

The Navy, Marine Corps, and Coast Guard continue to award and issue the bronze version.