Why is it that we associate an elaborate hat made of precious metal as a symbol of authority and nobility?
No one knows how the crown became a symbol of authority. However, the first crowns date back to ancient Egypt, probably between 3400-3250 BCE, when the hedjet and deshret crowns (https://ferrebeekeeper.files.wordpress.com/2011/06/crowns1.jpg) were used to symbolize rule over Upper and Lower Egypt.