I have this exact set. They are painted gold from the wearing discovered by the person I had examine them. Made from glass and very common. They have seen hundreds of sets like this from that time frame.
Golden South Sea Pearl Cultivation by: Yvonne Hammouda-Eyre
Good evening Stephanie
Thanks for writing in. It has long been known that the gold-lipped P. maxima in Philippines waters creates on the rare occasion, bright yellow or "golden" pearls.
Before the 1990s these colored pearls were not considered desirable in many markets, especially Asian ones. In fact, most farmers tried to develop grafting techniques that would avoid them! In the 1980s "Jewelmer" spent most of the 1980s breeding P. Maxima in Bugsuk on Palawan Island to develop an oyster that would consistently yield golden pearls and result in a brand able product.
In 1999, Jewelmer started marketing golden pearls as a glamour pearl by staging lavish fashion shows annually at the mid-September Hong Kong Jewelry and Watch Fair - which attracts most of the worlds key pearl buyers.
The push to create trade and consumer acceptance of golden pearls served as a catalyst for the entry of other fancy colors that had once been regarded as undesirable.
The dates don't seem to fit if these pearls are genuine golden south sea pearls. Early Cultivation of golden south sea pearls only started in the 1980s...so the golden south sea pearls and fancy colored pearls are relatively "newcomers".