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Company wants to sell gold in vending machines

Posted Jun 18 2009, 02:13 PM by Kim Peterson
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Forget about Doritos or Diet Coke next time you're at the vending machine. How about a shiny Krugerrand instead?

Investors are hot for gold right now. So hot, in fact, that one German company has seized on the opportunity and wants to roll out gold vending machines at airports and train stations.

The company, TG-Gold-Super-Markt, wants to sell customers chunks of gold weighing 1, 5 or 10 grams, as well as Canadian Maple Leafs and South African Krugerrands, The New York Times reports (you can see a picture of the machine in the link). One gram of gold runs for about $42.

The company wants to sell the machines for about $28,000 each, and will keep them stocked. And just in case the machines become sitting ducks for thieves, the company plans to test them with explosives, the Times reports.

Sounds like it'll be a while before these machines show up in the U.S. The company wants to have machines up in three months in Germany, Austria and Switzerland, with the eventual goal of placing 500 worldwide.

Related reading:

5 reasons to avoid the gold rush

A gold rush in China

Is gold the next bubble?

Forget gold. It's time to invest in platinum

Cash America pawns off gold

Comments

 

As a serious investor in gold in multiple forms I find this hilariuous and a huge markup at the price qouted it comes to $1306.30 per TO almost 50% above current price. Who wants some I will gladly sell and can make imediate delivery of about 1000 oz on demand for say a 30% premium with a thank you card :)

I'd like to see them place this machine in downtown Detroit. Within 5 minutes, it would be surrounded by black people trying to bust it open, shoot it, or tow it away. I also hope the re-stocking guy has a heavily-armed security team with him at all times.

Jenny, the u.s government isn't printing money, the federal reserve is.  The federal reserve isnt the government it is a privately owned company.  Also, printing this much money is bad, but it will take many years before inflation hits double digits.  It will never be like zimbabwe in the U.S, plus the price for the gold in those vending machines is too high.

Jenny, the u.s government isn't printing money, the federal reserve is.  The federal reserve isnt the government it is a privately owned company.  Also, printing this much money is bad, but it will take many years before inflation hits double digits.  It will never be like zimbabwe in the U.S, plus the price for the gold in those vending machines is too high.

Ddog (

Ddog - HELLO the FEDERAL GOVERNMENT is the ONE MAKING the RESERVE PRINT the money. A rose or pig in this respect(pork) by any other name is stil a rose(PIGGIE)

At the right Price this wouldn't be a bad deal but they are looking to maximize Profit and looking for the impulse buyer. I can see this working in some places around the world but not so much in the US. WE have too much of a criminal mentality and why not The POWERS that BE LET CRIMINALS off the HOOK all the time because they are mis understood and then Punish the honest and lawful citizens that make a simpe misake because how dare they try and do good and JAY WALK -those hypocritical do gooders - KILL them ALL!!! THAT  is the mentality that the PRESS has pushed for YEARS and a new generation of THUGS have come off the STREETS  and now have put themselves in GOVERNMENT and IN the SCHOOL SYSTEMS teaching the young and impreshionable to be THUGLIKE TOO.

Gold is old....Thats why us rappers gots the platinum on our grillz now. Gold Teef is so 80's. Its all abouts the Platinums.....dolla dolla bill y'all.

just heat the whole machine up. the gold will melt before the machine does and the gold will run out of the dispensing slot

The  government should give out money to people who can not afford gold. That way everyone can buy new gold. They are going to do it for cars, why not gold too? Of course, taxpayers will pay for it, but at least everyone can have a piece of the pie. Ya know?

haha mike, gub'mint bling.

Can you imagine putting your $42.00 in that vending machine only to find out it's broken!  I know how pissed I get when my candy bar doesn't come out, so I can imagine the scene the first time one of these machines doesn't send the product down the shoot!

This is a great way for peopleto be followed and killed.  This is a very, very stupid idea.  

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