"Old Money" is a ballad that runs at 4 minutes and 31 seconds with a beats per minute of approximately 115, in B♭ minor and 4/4. It is a melodic and lyrical development of the song "Methamphetamines" which in itself is melodically based on "What Is a Youth" (or "Love Theme From Romeo and Juliet") by Nino Rota. The song has a simple production featuring only layered vocals, piano and a string ensemble.
"Old Money" was met with a positive reaction from critics, with many praising Del Rey for her wistful vocal performance. Victoria Sadler of Huffington Post spoke highly of the track, deeming the song a "beautiful, wistful and bittersweet song about lost youth", and said that the song "plucks at the heartstrings". Joe Goggins of Drowned in Sound opined that the song was a highlight of Ultraviolence. Goggins further commended Del Rey, by saying, "A sparse piano aside, it's the only backing she needs to deliver the closest thing Ultraviolence has to a 'Video Games'". Sasha Geffen of Consequence of Sound pondered whether the song was a reference to the The Great Gatsby, as Del Rey's song "Young and Beautiful" is from the film's soundtrack. Geffen clarified that the song "sounds like it's sung through Daisy Buchanan, Gatsby's lost love whose story was only ever told by the men around her". Geffen praised Del Rey, stating, "In a way, Del Rey lends even more life to that character than Carey Mulligan did on camera", and closed her review by calling the track an "essential track" on Ultraviolence.
Due to the release of Ultraviolence and strong digital downloads of "Old Money", the song debuted on the top France songs (Syndicat National de l'Édition Phonographique) chart at number 190.
Del Rey performed the song live for the first time on July 5, 2014, at the Vida Festival in Spain as an a cappella clip due to audience request. The song was also included in the set list for October 2014 portion of the Paradise Tour. In 2015, Del Rey performed an a cappella clip of the song in Atlanta, Georgia, as part of the Endless Summer Tour on June 14, and in 2016 she performed it again at the Corona Capital festival in Mexico on November 20. In 2018, Del Rey performed the song a cappella on January 21, 2018, and the remaining January dates of the LA to the Moon Tour.
- Lyrical references to "Young and Beautiful" such as "will you still love me when I shine from words but not from beauty", which is similar to "will you still love me when I'm no longer young and beautiful".
- Feelings of loneliness are explored in "Born to Die".
- Del Rey sings about blue hydrangeas in "Axl Rose Husband", "Greenwich" and "Elvis".
- Del Rey refers to herself as the "queen of New York" in "Party Girl", "Us Against the World" and "Summer of Sam".
- White sunshine is also mentioned in "13 Beaches".
- Kids are mentioned in "Ultraviolence", "Never Let Me Go" and "Love".
- New York is mentioned in many of Del Rey's songs, some of which are "Hit & Run", "Ultraviolence" and "How to Disappear".
- The phrase "Where'd you go?" also appears in "Dear Elliot".
- Vine is also mentioned in "Burning Desire", "Every Man Gets His Wish", "Bartender", "Dark but Just a Game" and "Happiness Is a Butterfly".
- Del Rey also mentions her mother in "My Momma" and the poem "LA Who Am I to Love You".
- Red racing car is also mentioned in "Chemtrails Over the Country Club".
- Cash is also mentioned in "Hundred Dollar Bill".
- Album version — 4:31
- Instrumental version — 4:29
- Lana Del Rey — vocals, songwriting
- Daniel Heath — songwriting, production, arranging
- Robbie Fitzsimmons — songwriting
- Milton Gutiérrez — engineering
- Andy Zisakis — assistant engineering
- Robert Orton — mixing
- Matthew McGaughey — orchestration
- John Davis — mastering
- Published by Songs Publishing / Sony/ATV Music Publishing
- Mixed at Hot Rock Studios, Santa Monica, California
- Strings recorded at The Bride Recording, Glendale, California
- Mastered at Metropolis Mastering, London, United Kingdom
- ISWC-Net #T-909.965.208-1