Hello David,
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For what it's worth the auction house attests that it is all pure gold.
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I have yet to know any auction house that guarantees any item descriptions. I guess they just went with Frey's collection notes without any scrutinizing.
Considering the patination on the front side, I also believe this is gilded silver; I'd also be extremely surprised if the selut were solid gold (usually these are fire-gilded at best). Why the wear is on the front side while the back side seems still intact is anybody's guess...
I agree that the real worth of any keris should be in the blade though.
Regards,
Kai