Good find and that IS the case. It's not a thin shell and looks to be a substantial thickness (probably about 2mm). Just by the pic and assuming the back is the same thickness it looks to be in the 10 to 20 gram range. Lets say it weighs ½ ounce (15.55 grams). Back of the envelope calculations.We have this image here:
http://rack.3.mshcdn.com/media/Zgky...iCTEyMDB4OTYwMD4/3532b3b7/c2f/chipi07asdf.jpg
Look close.
In reality, it may well be a black inner frame plastic/aluminium? holding it all together.
The actual "case" looks like it could very well be, a thin eggshell around the inner body
So, yes, the term "Case" may not be what you really think the word case is.
It's a thin shell of a finish, wrapped around the internal skeleton of the device, the skeleton is what the parts are fixed into.
The "Case" is a thin case around it all, for a "finish"
Think of your holiday SuitCASE
So, yes, the "case" may itself be solid gold, but don't think the case means the whole internal structural framework/skeleton also.
Think "suitCASE"
Remember....
THIS: http://dailyiphoneblog.com/wp-content/uploads/2010/09/iphone-4-zero-5-thin-case-09.jpg
Is a "CASE"
A super thin shell "Encasing" the device
I'm sure many many are totally misunderstanding the definition of the word "case" here
15.55 x .75 = 11.66 grams of gold
Gold $1216 / 31.1 = $39.10 per gram
11.66 x 39.10 = $455.91 'scrap' Gold value