We have begun migration of most wikis to our new host, Amazon Web Services. All but the top 100 wikis are in read-only mode until the migration is complete. Estimated completion: TBD -- Update: Fri 10/20 11pm UTC - We have encountered some unexpected issues. Our staff is working around the clock to complete this process as quickly as possible. Thank you for your patience.
From Terraria Wiki
A Throne is a piece of decorative furniture. It also fills the role of a chair allowing NPCs to move in if needed. Despite looking regal it does not fulfill any services beside this.
While one is able to craft it out of Gold or Platinum, it will always have a gold appearance.