From Guild Wars 2 Wiki
A trophy is an item which generally drops from monsters. It can have one of several uses:
- Junk trophies are intended solely to be sold to an NPC. Such items, which have no other useful purpose, will be automatically sold when you press the "Sell Junk" button on the NPC's Sell dialog.
- Salvage Item trophies can either be salvaged with a salvage kit to recover crafting materials, or sold to an NPC.
- Event item trophies are items which players have to collect during an event, then turn them in to an NPC to complete the event.
- Tokens are rare trophies which drop mainly in dungeons, and which are used to purchase equipment from specific NPCs.