So I have been shopping around for a while for a Constellation in SS and noted a lot do not have the gold medallion on the case back... Now I was under the impression that all Constellations even the steel models had that observatory medallion in gold but that they were frequently removed and sold for scrap gold. Is that accurate because if so, it seems like its going to be a challenge to find one with the gold medallion still in place.
It varies depending on which model of Constellation you are looking at. The only thing that for certain is wrong is a blank space in the middle of the case back..!
Here are a couple examples, the first being what I believe is the 50's style Constellation with what I believe are referred to as dog leg lugs and the pie pan dial. The second being the 70's cushion (I think thats what you would call it) style case. Due to the texture on the 70's one I'm thinking maybe it wouldn't have originally came with the gold medallion...
The watches you pictured are '60s / 70s models and both have the correct medallions. On some older Constellations the medallions occasionally come lose. They are very thin and not worth much for gold value at all. It would be very uncommon for one to be removed for the gold. As Mr Pueblo stated, a missing medallion would leave a blank flat empty space. You concerns are unwarranted, relax and keep hunting.