1. Material and Craftsmanship: The value increases if the medallion is made of authentic gold plating and features intricate craftsmanship, such as detailed designs or engravings.
2. Condition: The overall condition of the medallion, including any signs of wear, damage, or tarnishing, affects its value. A medallion in mint or excellent condition will be worth more.
3. Age and Rarity: The medallion's age and rarity also play a role in determining its value. If it is a vintage or limited edition piece, its value can be higher.
4. Authenticity: The authenticity of the medallion is crucial. If it is an officially licensed or authenticated piece of Elvis Presley memorabilia, it will be more valuable.
5. Provenance: If the medallion comes with documentation or a known history of ownership, such as being associated with Elvis Presley or someone closely connected to him, its value can be significantly higher.
6. Demand and Market Trends: The value can fluctuate based on market demand and trends for Elvis Presley memorabilia.
Without examining the specific medallion, it is difficult to provide an accurate valuation. However, similar gold plated Elvis Presley medallion necklaces have been sold for prices ranging from approximately $20 to several hundred dollars, depending on the factors mentioned above.