This is a medal commemorating the 500th anniversary of the discovery of the New World in 1492, sold by the Franklin Mint in 1992. The medal weighs approximately 23g. There may be some error as this is an amateur measurement. The edge is marked with the material and a hallmark: "24 KT ELECTROPLATE ON STERLING" The price is calculated by estimating the weight of pure silver from the medal's weight (23g) and fineness (.925), and calculating based on the current silver price of 315 yen/g. By the way, nowadays it seems that instead of "discovery of the New World," they say "Columbus's voyage" or "Europeans landing in the Americas." Main material... Silver