Gold Chest

The Gold Chest is a Storage item. It is identical to the standard Chest, but it can only be generated on World creation, and can not be crafted. Gold Chests can contain large sums of coins and other items. They are found in the Underground, Cavern, Underground Jungle, on Floating Islands, and in the Dungeon. Dungeon chests are always locked, and require one Golden Key each to open.

Removing all items from a Gold Chest allows it to be freed with a Pickaxe. It can then be placed and used just like a standard Chest, with 40 slots of storage space (again, the same as a standard Chest). They can also be sold to an NPC for 10 (whereas the standard Chest will only sell for 1 ).

Gold Chests are gold-colored and have a sparkle effect, shining when exposed to a light source, similar to Coins.

Loot
The loot for any given chest is determined by the location in which it is found. Each chest contains a single "rare item" and an assortment of randomly chosen common items. The rare item is first placed in the chest, then each set of common items is checked to see whether or not it will be added. If a set is chosen to be added then a single item from the list is added to the chest.

Underground
It has a relatively low chance of containing a Extractinator (only 5%). Furthermore if it contains a Flare Gun it also contains Flares. The metal it contains depends on what metal can be found in that world.

Cavern
It has a relatively low chance of containing a Lava Charm (only 2.5%) and Extractinator (only 6.5%). Furthermore if it contains a Flare Gun it also contains Flares. The metal it contains depends on what metal can be found in that world.

Dungeon
Besides the items listed here they have the common items depending on the height they were found: Underground or Caverns. Dungeon chests also require a Golden Key to be opened.