This is a vintage 1920s - 1930s porcelain tea set from Japan that was made for export to the Western world. The peach or orange glaze is referred to as a luster glaze. The piped on decoration is raised enamel in gold and called 'moriage'. It is likely 22k and not 14k. Even if the gold is real on it, there is no longer a precious metal melt down value since the cost to extract would exceed the value of the amount extracted. The fine china for dining and tea set market is currently slumped and was further impacted by the Recession. The estimate is based on actual past auction sales of comparables.