1. Go to File - New. Make the image width 400 and the height 300, on a white background. Set colors - foreground: White and Background: Black. Now make sure your text size is 150 pt. Add your text in BLACK. Be sure to center the text on the background by using the Move Tool (V). Now rasterize the type(Layer - Rasterize - Type). Name this layer TEXT. Be sure to activate this layers type by control-clicking on the layer in the layers palette and start the "marching ants."
2. Now, duplicate the text layer by highlighting it and go to Layer - Duplicate Layer. You just made a copy of the text layer. Name this duplicate layer Text Shadow. Now move this duplicate layer underneath the text layer by holding down the mouse key while dragging it. After you have it properly situated, release the mouse button. Make sure that "Preserve Transparency" is turned off.
3. Now use Filter - Blur - Gaussian Blur and set the radius to 5.6. Offset the shadow layer down and to the right just enough to give it a shadow by pressing the down arrow on your keyboard 5 times and the right arrow on your keyboad 7 times.
4. Next, we prepare the text for grooming. Move back to the text layer, make sure the "marching ants" are still marching. Go to Filter - Artistic - Plastic Wrap. Set the highlight strength to 20, detail to 6 and smoothness to 6. Run the filter twice for the right effect. Now run Filter - Blur - Blur More two times.
5. Now, use Filter - Eye Candy - Inner Bevel.
6. Now use the following Greg's Factory Output Filters Vol. II - Pool Shadow, Metal Effects and Colorize. Do not deselect the type during any of these transistions.
7. Deselect the type layer by going to Select - Deselect. The layers palette should look like this.
8. Now just add Curves and your text is complete. Go to Image - Adjust - Curves.
Here is the completed cold gold text.
