I got Reddit Gold last week for a stupid joke. This meant I could give one Reddit Silver medal, which doesn't come with any perks at all. I gave it to an artist, who was nice enough to thank me for the honor.
And I got access to /r/lounge, where I got to see what they're hiding at Area 51 and in Fort Knox, but I'm not allowed to talk about that.
Oohh. So it's just like a fancy thing on your profile/comment then. I got a cute award just now, brb gonna check r/lounge to know some secrets B-)