Chosen Solution

http://i1142.photobucket.com/albums/n611… old picture but looks the exact same can anyone tell me what this is or what it does?

It is the grounding finger of the rear camera. See step 15 & 22 of the following guide: iPhone 4 Verizon Logic Board Replacement

gold pieces in the iphone 4 where do they go

Top left. If you look at step 15, there is some tape next to the section highlighted green, When you life the tape there is a screw there but that is where the gold part sits