I think that it is mostly copper, covered by a very thin golden finish that can be removed very easily. I gave my razor a thorough cleaning and have experienced the same. It seems to be quite common with the NEW.
It is a good shaver, still. If you donīt like the handle now, you can exchange it for a Tech handle. They are compatible.
[SIZE="1"]Other razors that I have tried: Gillette Parat, 1940, 1950,1970 SS, Gillette NEW, Gillette aristocrat jr., Gillette Aristocrat (US), ball-end-Tech (US and British), fat handled Tech, Fatboy, Merkur HD [/SIZE]