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Would You Buy Gold From A Vending Machine?

by Mike

When you think of vending machines you probably think of candy bars, potato chips, and an ice cold bottle of Coke.  Or maybe Redbox is the first thing that pops into your head.  But these days you can buy all sorts of items from a vending machine including eggs, french fries, umbrellas and lingerie.

And thanks to a company called Gold to Go, you can even buy gold right out of a vending machine!  While almost all of their current locations are either in Germany or Dubai, there is a gold vending machine located right in the Golden Nugget Hotel and Casino in Las Vegas. Just imagine winning a big jackpot at the slots and instead of taking it home in cash you stop by the vending machine and buy yourself a shiny gold bar.

Who knew investing in gold could be so easy?

Just insert your cash and credit cards and follow the directions on the touch screen monitor and out spits a gold bar.  Of course with gold currently trading at around $1500 per ounce you shouldn’t expect bars like the ones you see in the movies.

But is this really the best way to invest in gold?  Would you buy gold from a vending machine if you had the opportunity?

 

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{ 7 comments… read them below or add one }

optionsdude

I have these machines on television reports. I would certainly consider buying gold in this fashion if the price was consistent with what could be obtained elsewhere. The demand for a $1500 item out of a vending machine might be pretty slim. I think silver might be a better seller.
optionsdude´s last [type] ..Updating My Silver Wheaton Trades From Last Week

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[email protected]

Interesting, I guess if you didn’t want to deal with getting from a bank or whatever this is a good choice or if the end of the financial world is coming and you need the gold fast. I would be a bit worried about how legit the gold is though. Pretty funny…nice find.
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Money Beagle

It won’t be long at all before someone figures out a way to steal one of these vending machines. If people can figure their way into ATMs, you know that there’s someone out there savvy enough to figure out how to rip these off (or at least try).
Money Beagle´s last [type] ..Missed Opportunities At The Gas Pump

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Tim @ Faith and Finance

No way – I won’t be buying gold from a machine any time soon. I saw a ‘gold ATM’ in Vegas a while back – very interesting concept.

It seems a little too risky to be walking around with a gold nugget in your pocket!

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Financial Success for Young Adults

I wonder if the price in the vending machine changes daily :)
Financial Success for Young Adults´s last [type] ..Do you have Street Cred

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krantcents

I think the first question, would I buy gold? If I did, do I want to take possession? I definitely would not buy something so expensive ($1500) from a machine! I would think it would be a lot easier to do it through my stock broker and not take possession of the gold.
krantcents´s last [type] ..KC Awards- Weekly Recognition

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Claire Culpin

They should have Silver machines too for us poor folk.
Claire Culpin´s last [type] ..goldsenze

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