Never tell others how to live.
Gold is a very soft metal. If you wear a gold plated pistol, it is going to show that wear VERY fast and deflate the value of that pistol.
If it has the name Colt on it, it is indeed collectable, lots of Colt collectors out there, as to value, you will have to get it appraised or look it up yourself. You can spend some time on Gunbroker and find a sound balpark knowing that some folks too often think they indeed have THE GUN OF ALL TIMES when in reality they have a 3 or 400 dollar gun, but most price close to market.
If you are near St Louis, near St Charles Rock Road and Lindebergh you will find a small gun shop on the south side of the Rockroad east of Lind but before Cypress, arguably one of the top Colt collectors in the US.
Trail Creek is the name but no huge sign or anything.