Why do people say old is gold?

The phrase "old is gold" is often used to convey the idea that things or people that have stood the test of time are valuable and worthy of respect. This can be attributed to the belief that older items or traditions possess a certain timeless quality or wisdom that newer things may lack. Additionally, nostalgia and sentimentality play a role in how people perceive the past, leading them to appreciate and cherish what is old.