Cash4Gold, which pioneered the gold buying service in the US, is launching in the UK with what it claims to be one of the “biggest direct response advertising campaigns in the UK’s history”. The plan is to sell gold after somebody responds to the advert and then sell it on.

The company has been successful in the US, where 800,000 people have used the service since it was launched two years ago. It now employs 300 people and receives more than 1,700 oz of gold per day, with 94pc of respondents accepting its cash offer.

Jeff Aronson, founder and chief executive of Cash4Gold, said: “With times being tough in the UK, just as they are in the US, we know people are hurting and look forward to providing them with a way to turn broken or unwanted items into cash. Many people may not realise that they can sell items which otherwise would just collect dust lying around the house.”

Cash4Gold plans an extensive advertising campaign, similar to its launch in the US. The company made history when its TV advertisement featuring rapper MC Hammer became the first from a direct response company to be aired during the Super Bowl. By the end of this year, the company expects to be the UK’s largest direct response advertiser, with spots airing in dozens of television, radio, online and print outlets.

The company also makes offers to celebrities and governments to garner publicity. The company has recently offered to buy America’s entire national gold reserves for $240bn (£147bn) and it has also offered cash for Padraig Harrington’s British Open trophy for its melt value.

“We look forward to playing a positive role in helping boost Sheffield’s economy, hiring local workers and becoming active in the city’s business community,” said Mr Aronson.