Legendary golden-touch king (5)
I believe the answer is:
midas
(Other definitions for midas that I've seen before include "Mythical king who had the power to turn everything to gold" , "His touch made gold" , "Greek mythological king with money-making touch" , "King of Phrygia who had a golden touch" , "I'm sad (anag) -- king of Phrygia" .)