The first Lightfoot compilation to feature music from his 1970s Reprise Records albums, Gord's Gold also includes re-recorded versions of several songs from his 1960s United Artists output (tracks 1-10). This served to update the earlier songs to the same style as his later work and gives the album a level of consistency often lacking in similar compilations. Lightfoot's reasons for re-recording the United Artists tracks were explained in the liner notes as being because "he doesn't like listening to his early work".
Despite covering only the first decade of his career (and lacking one of his biggest hit singles, "The Wreck of the Edmund Fitzgerald", which was recorded the following year), Gord's Gold has remained the most commercially popular Lightfoot compilation. In 1988 Lightfoot released a second volume, Gord's Gold, Vol. 2, which also featured re-recordings of earlier hits.