# Gold vending machine



## jimdoc (May 13, 2010)

If they steal ATM's, I am sure they will be trying to get these;

http://www.dailymail.co.uk/news/worldnews/article-1278165/Ultimate-vending-machine-dispenses-gold-cash-surprise-surprise-located-Abu-Dhabi-hotel.html?ito=feeds-newsxml


----------



## machiavelli976 (May 13, 2010)

this is the most stupid thing i have ever seen about gold !


----------



## patnor1011 (May 13, 2010)

Well if price is good, I would like to see more of those around. Definitelly better option than buying gold from jewellery shop or throught ads in newspaper.


----------



## qst42know (May 13, 2010)

Just can't sleep without some gold under their pillow? :roll:


----------



## hphoa (May 13, 2010)

I'd like to see one that assay and buy's gold and platinum group metals at spot! any Inverters........


----------



## machiavelli976 (May 14, 2010)

the price sucks ! i've read somewhere it is about twice of the spot


----------



## patnor1011 (May 14, 2010)

machiavelli976 said:


> the price sucks ! i've read somewhere it is about twice of the spot



Dont know where did u find your information but i found about 200 webpages about that recently. These machines are nothing new in Europe and were first introduced in Germany. Price is averige about 30% over spot. Ideal place for small investors like. If they want to own few grams of gold it is better for them to get that from this machine than buying that from jewellery shop.


----------



## nickvc (May 15, 2010)

I have got to say that as a jewellery retailer that i sell items made from gold not gold so comparing the price you pay for jewellery to the gold spot price is a little bit like comparing the price of steel to the cost of your car.Here in the Jewellery Quarter in Birmingham margins on jewellery are very competitive due to the high concentration of shops and i have met many people who have sold their gold chains etc for more than they paid for them 4 years ago.The vending machines are the lazy mans way to buy gold or an impulse purchase , if you want to invest in physical gold there are many ways to buy much cheaper including coins and im sure every member of the forum would be only to happy to sell at a 30% premium to spot , like thats going to happen......


----------



## patnor1011 (May 15, 2010)

i got your point nick. my point was that if ordinary joe soap wants to get hold on few grams of gold to burry that in garden for grandchilds he is better off to buy in that machine than in jewellery shop. I am not comparing bars with rings or necklaces they bear price of manufacturing they are often handmade and are priced according to what goldsmith put into creating them. we all know price of gold and yet cash4gold companies are making millions. if they are on market buying for 50% of spot i cant see nothing wrong in companies selling for 130%. i will surelly not become client of neither of those... but millions of people did and do...
to compare gold bar and piece of jewellry is like comparing cheap limo and pepsi. but - at the end of the day both are only drink and if u are really thirsty that limo will taste like pepsi....


----------

