A pitch for direct response media buying is understood to be happening in the next two weeks.
The company, which made advertising history earlier this year when it became the first direct response advertiser during a Super Bowl ad break in January, said the downturn meant the time was now right to launch in the UK.
It expects to be the UK's largest direct response advertiser across television, radio, online and print by the end of this year.
The Super Bowl ads, by Euro RSCG’s direct response arm Euro RSCG Edge, featured the late Ed McMahon and MC Hammer, faded celebrities known for their financial woes.
Cash4gold said it saw traffic to its website multiply by a factor of 10 in the wake of the Super Bowl ad.
In the US, 800,000 people have used the service since it was launched two years ago. Consumers post their gold jewelry to Cash4Gold, which then melts the gold in its Florida metal refinery. In the UK, Cash4Gold will process gold in a facility based in Sheffield.
It now employs 300 people and receives more than 1,700 oz of gold per day, with 94pc of respondents accepting its cash offer.
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