badstang

You might try your other key just to see if the problem is with the key. I would guess the gold colored metal you are seeing is the base metal of the key and the chrome is worn through. Also, if your car has a tilt wheel try moving the wheel up and down a few times next time this happens. I noticed when the ignition is in the on position and the theft light is flashing tilting the wheel caused the light to stop flashing and I was able to start the car. This indicated to me, a bad connection in the steering column. Hopefully yours a is key issue and not a column problem.