The English expansion was announced today in a feature piece in the Sunday edition of The Daily Telegraph, England's top newspaper.
Cash4Gold Founder and CEO Jeff Aronson had mentioned the company's plans for expansion just days ago during an interview with Bloomberg Television. Aronson's interview with Bloomberg is currently available for viewing at Cash4Gold's website in the video section along the left side of the homepage.
Below is the full text of the Daily Telegraph's story on Cash4Gold's U.K. launch:
Postal Gold Buying Service Launched
UK residents can now send broken or unwanted gold jewellery through the mail and receive its cash value in return.
By Garry White
Published: 8:16PM BST 18 Jul 2009
Gash4Gold is hoping for a golden opportunity in the UK
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 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.
In the UK, Cash4Gold will operate out of a high-security processing facility in Sheffield.
"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.
http://www.telegraph.co.uk/finance/financetopics/recession/5858431/Postal-gold-buying-service-launched.html
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