According to this article in the Telegraph, MC Hammer just taken a stake in Cash4Gold, a service which buys unwanted gold from hard-up customers and melts it down to make bullion.

MC Hammer, famous for his ‘Can’t touch this’ rap, is the latest in a long line of people to buy into gold, the value of which has been riding high for some time.

In the US, 800,000 people have used Cash4Gold and the company started a branch in the UK earlier this year. It employs 300 people despite having launched just two years ago.

It claims to receive more than 1,700 oz of gold on average every day and that 94 per cent of customers accept cash offers made for their unloved jewellery.

Summing up the service, a spokesperson for the company told Telegraph: “If you have something that is broken or looks a bit seventies, then we offer a deal that’s quick and convenient."

MC Hammer is already the "face" of the brand having fronted its adverts.

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