Gold vending machines to be introduced in the United States this year first in Florida then Las Vegas in times of economic uncertainty. http://www.chicagotribune.com/business/yourmoney/sns-gold-to-go-atms,0,6877129.story
I would be reluctant to buy gold from a vending machine. The last time I bought a bag of pretzels I paid my money, hit the buttons and watched as my snack almost made it down the chute. I gave the machine a whack and voila!, I had two bags of pretzels. On second thought maybe I will buy gold from a vending machine...
I can't say what the premium over the spot prices updated every ten minutes in the machines would be anymore than could I say a deal on eBay or from any online bullion dealer is any better than buying in person from a local shop or at a coin show from a dealer you know and can trust. It is highly probably that with such a sales gimmick, such a device is going to be placed in the sort of venue which seeks to exploit those lacking precious metals buying experience with enough disposable income and to make a profit from those very souls. The novelty of the vending machine would more than likely enough to make a profit off people who just want to try it, despite the higher premiums. Those just curious for the novelty of the experience and many others would likely be tempted to buy the small gram bars, as small bars will appear less costly on the surface. With small gram bars we all should know to stay away from those because of the obnoxious mark up over spot dealers place on them-- the same mark up one looses on these tiny bars when they go to resell them. Unless there are competitively priced government issued bullion being sold in the machines (Krugs and Maples it suggested -- but I'd like to see AGEs or AGBs selling in the US machines] and I knew to whom this money was being paid to, there is no way I'd be buying bullion from one of these machines. These are the same gold vending machines that have been gathering press since 2009 from this German company's attempts to get them in public places. Back in May they unveiled in Abu Dhabi and we saw a flurry of discussion on them then. Here's one thread I posted with photos and links to other stories about the Gold ATM.
