Alot of it has to do with the method it is applied. Is it engraved or painted, or a sticker perhaps. If it were me I would do this. I'm sure you can sand it off. BUT. It really depends on what the cap is made of. If it's made of a solid plastic you can just keep sanding with finer and finer paper until you get to 600 or finer, then use polishing compound to make it shiny again. Be careful of the leather. If it isn't homogeneous you may have to repaint it.
If it really bothers you, get rid of it, just use common sense and be careful...work slowly. Like with anything if you doubt your ability to get it how you want it, don't mess with it. Good luck.