Feb. 4--In the gloom of the down economy, the price of gold has been an unusual bright spot.

How bright? Enough that Cash4Gold, which buys old jewelry by mail, could afford a prime Super Bowl ad starring Ed McMahon and MC Hammer.

Across the country -- and across North Texas -- people are responding to TV spots, billboards and newspaper ads that promise to turn rings and trinkets into cash.

Most discover that the metal is worth a fraction of the purchase price -- a ring that sold for $150 a decade ago might be worth $50. But many sell the items anyway, figuring that a bit of cash in the hand is better than an old ring stuck in a drawer.

This may be a particularly good time to sell gold, compared with other used items, experts say. Collectibles and other commodities are flooding the market, driving prices down. But gold was priced this week at better than $900 an ounce, which is near the record highs.

Gold has been a historical haven for investors in tough times because many people have confidence that the precious metal will hold value when other commodities are tanking. That faith persists in the current meltdown.

Combine high prices with a growing number of people nervous about their cash flow and you generate the kind of revenue that pays for the Cash4Gold Super Bowl ad. In the post-game buzz, some commentators said that it was sad to see McMahon and Hammer reduced to hawking a mail-in gold resale company.

But Cash4Gold founder Jeff Aronson said it reflects what's happening with the economy. "I feel more sad when I see people being laid off from the largest companies in America," he said.

Laid-off workers are some of his customers, and they're among those bringing gold to jewelers in North Texas.

William Oyster, president of Dallas Gold & Silver Exchange in northwest Dallas, said he's buying four times more gold now than last year.

"It started picking up about the middle of last year and since then we are spending almost $10 million buying gold. We were spending half of that, about $5 million, before the price of gold went up," Oyster said.

Fuller's Jewelry Store in Addison is one of many places in North Texas where people can take gold for resale. Fuller's didn't buy scrap gold until customers who saw the Cash4Gold ads asked about it, said Ken George, who handles much of the gold purchasing and marketing for Fuller's.

George was tactful about the urgency some people are feeling about getting money for their gold.

"We have been very pleased with the number of responses we are getting from the advertising we're doing," he said.