It is my understanding (and I should re-read this thread to improve on it!) that contemporary imitations were often to show case the talents of Jewelers. And gosh, the gold tokens that repindia posted are just beautiful. I agree with Dale wholeheartedly. But should collectors concern themselves with the use of gold alloys. Did the 19th century Jeweler ever cut costs by cutting down on the percentage of gold used in the making of the token?
The following, about use of gold alloys today and not in the 19th century, was pulled from the web:
Low Carat Alloys - Real Gold or Not?
In the past few decades, a number of gold coins, made to sell to collectors, and as souvenirs and commemoratives, have been made from lower gold alloys, such as 18 carat (75%), 14 carat (58.33), 12 carat (50%), and even 9 carat (37.5%)! We believe that these low carat coins have obviously been produced because marketing departments have wanted a low cost product to fill a market gap, or to maximise their sales and profits
richie