Gold plated, smooth below the neck and above the TTO mechanism.
Notes of Interest:
There are three different boxes for this razor; a blue leather with white lining/blue lettering on the lid; brown leather with white lining/maroon lettering on the lid; and brown leather with maroon lining/gold lettering on the lid. The exact order of their release is being researched but has yet to be determined. Additionally, there are 2 variations of the 1940's Aristocrat; the 1941 version is unnotched and does not have end caps; and the unnotched post-war 1946-1947 variety that does have end caps. These can be seen in the last photo comparing the former to the latter.