Actually! All of you are wrong! This song was writen for th movie 'Pat Garret and Billy The Kid' and th meaning is really simple! He was th sherif and he got shot and he was fadeing away and he was talkin to either his wife or mom and was sayin tht he didn't need his guns anymore and to bury em with him and to take th badge off of his chest. Just read th lyrics and don't over think it! Its exactly what they say!