Not into horse racing, so couldn't tell you much about it.
And the auction description is sparce as best:
“Dubai gold Medal Godolphin ND, gem Proof with frosted details, 49.89 grams, 45 mm, plain edge and stamped .999 Fine. Godolphin is the Maktoum family's private horse racing stable with headquarters in the UAE.”
The price on page is the melt value of the gold, the item pictured on the page allegedly sold at auction for $2,242.50 on Aug 13, 2010, (about 20% over spot) unfortunately, like all good stories the twist is that with 7 registered bidders, the owner placed a late bid on the unreserved lot and repurchased it. lol
I guess it's worth what you can convince someone to pay, they don't come up for sale enough to get an idea of value, that was the only one heritage has had for sale.