The chest you see above is something you should definitely look out for while you are playing Borderlands 2 if you wouldn’t mind some sweet loot. Though not particularly detailed where in, this chest will be located in the city of Sanctuary. According to Gearbox: “This should take you about three hours (two hours to play through the missions leading up to Sanctuary, and one hour for physical recovery after you injure yourself laughing at the impeccably written dialog).”
When opening this chest, you will receive purple loot based on your current player’s level. If you have forgotten the Borderlands system, purple is code for very rare in terms of loot. It is also mentioned by Gearbox that while you can, like with any other weapon in the game trade, sell, or give away the golden chest’s loot, you cannot trade or sell golden keys. Once you have used one of your keys, it is then gone forever. We say one, based on Gearbox’s comment “If you’ve only got one Key…” which leads us to believe if you manage to get more than one golden key, you can stack them for multiple play-throughs.
On the note of getting more keys for future runs of Borderlands 2, Gearbox had this to say:
We have a lot of ideas cooking as to how we might be able to distribute Golden Keys in the future — I can’t imagine we’d only distribute them based on physical proximity to events or what social media channels you use — and will be sure to keep you all updated once we have more to share on that.