A little off the political but what are your thoughts of the gold vending machines gaining popularity in Germany and China and now in the United States. Take your ATM to the machine and get gold. Can this indicate the decline or elimination of cash.

Originally Posted by DDoug

A little off the political but what are your thoughts of the gold vending machines gaining popularity in Germany and China and now in the United States. Take your ATM to the machine and get gold. Can this indicate the decline or elimination of cash.

Thanks for posting...I had never heard of this. Did a little check and wonder the percentage of serious buyers to "unique" gifts types !!

It is interesting if you follow the value of our dollar and the very pessimistic outlook for our economy coming up.

Have you ever known a vending machine that return value for price? Whom do you believe will monitor/regulate this process?

Will the vending price move in the manner of gold value?

It appears to be a novelty and if that assumption is correct then it isn't for serious investors.

The Fed actions are having an adverse affect on the value of the dollar and they need to end its manipulation and let nature take its course.

I just looked on the Internet and there is a gold vending machine at the Town Center in Boca Raton. The machine takes a 4% to 15% commission depending on the size of the sale. It spits out a gold wafer. The price recently was from $122 to $1450 and you have to put in US currency to get the gold wafer in a little black box.

Really not for serious gold investors.

Originally Posted by buggyone

I just looked on the Internet and there is a gold vending machine at the Town Center in Boca Raton. The machine takes a 4% to 15% commission depending on the size of the sale. It spits out a gold wafer. The price recently was from $122 to $1450 and you have to put in US currency to get the gold wafer in a little black box.

Really not for serious gold investors.

Seems like a foolish idea. Does the vending machine come with an armed guard??? Or, are they inside banks or some other such place that already has armed guards?

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The person buying the gold from the vending machine would also probably need an armed guard when leaving the secured area.

The articles that I read said you can use an ATM card. Money to be made but why do you suppose people will need gold at a particular moment. Cash will not be accepted I would guess. The vending machines prices will be up dated every 10 minutes. There are 6 states right now that have made precious metal as their official currency dont remember which ones but can be found on the net. This will be an interesting subject to watch. Not real big in the U S yet . And just 40 or 50 years ago it was illegal to own gold. Very interesting

When it gets down to that level, it probably means that gold fever has peaked. Small investors are always the last to get on-board. After that, the bottom drops out of the gold market.