Detective Sergeant Eugene Pickett said the couple were not physically harmed in the home invasion and they were being helped by victim support.
"This was an incredibly frightening ordeal, in the very place where the couple should have been able to feel safe.
"Not only has their home been invaded, but things that meant a great deal to them, like the gentleman's war pin, have been stolen from them and they are very shaken."
"Someone out there may know or suspect who has done this and we would appeal to the conscience of anyone with information that could help us - how would you feel if this was your relatives?''
Police said the offenders fled the scene in a red, mid-80s four door car.
One was described as a softly spoken, stocky or fat Maori or Pacific Islander, aged in his mid-20s to mid-30s. The other was a slim Maori or Pacific Islander in his mid-20s to mid-30s.
Mr Pickett said anyone who recognised the jacket or badge should contact Waitakere police on 09 213 8049 or Crimestoppers anonymously on 0800 555 111.