It's not gold but gold plated (gilt). The gold plating was done prior to the coin being struck and was intended. Thats why you get the frosted affect. The frosted affect is done by sand blasting the dies then polishing them. When the coin is then struck the high part of the die (or fields of the coin) become shiny and reflective (like most proofs) and the low part of the die (or high parts of the coin) become frosted.
It cost me £350 or $700 and although its a small coin. I think it was an acceptable price for something so beautiful, rare, old and with such a nice pedigree.
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