The symbols through which national sentiment is founded tend to be unquestioned. It is forgotten that they are products of a historical process of definition that includes various interpretations and debates. The Royal Banner attributed to Francisco Pizarro that rests in the collections of the National Museum of Colombia is a paradigmatic example that allows us to appreciate the transformations of meaning in an object with which both Royal power and national independence have been symbolized. The article investigates these transformations in the significant intention of this Banner from the end of the colonial period to the beginning of the 20th century. The analysis shows that the meaning of the Banner has changed, obeying the ideological tendencies of the current political elites.