Gold has long been a go-to commodity and in Germany, where 59 tons of gold was sold last quarter, this is particularly evident.
The Market Oracle reports that it will be easier than ever to buy once gold vending machines are installed in 500 locations throughout Germany and Switzerland. The gold, which can be purchased with cash or credit, comes in varying amounts and the price changes several times a day depending on the current market price of gold.
Gold isn't the oddest thing you can buy in a vending machine and it certainly isn't the most expensive. That honor belongs to the Mondrian South Beach in Florida where you can purchase a Bentley convertible and other items ranging up to $1.2 million. Other vending machines here in the States dispense iPods and other expensive items in airports and even at Macy's.
If it's weird you want then Japan's the place to go for vending machine curiosities such as used underwear, porn, whiskey, eggs and live lobsters. If you take a trip to France you can even skip the grocery store if you'd like and purchase your groceries from the "world's largest" all in one supermarket vending machine.
I fully expect that if gold vending machines make it over to the U.S. they will be transformed into "Gold Grabber Machines" tempting shoppers with a chance to win a bar of gold for $10 a try behind the cash registers at Wal-Mart.
Don't book your flight just yet; the vending machines won't be in full operation until later this year and even then expect to pay a premium.
A Reuters' blogger who got an early crack at the gold vending machines found that he paid a 30% premium over the market price. While some of this premium can be attributed to buying gold in such a small quantity, some of it must come from the novelty and convenience of using a gold vending machine. Do yourself a favor and stick to standard weights of gold which are sold at closer to market price.
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