Commodities & Metals

Machines That Dispense Gold Bars Coming To The US

A German firm called “Gold to go” plans to introduce gold vending machines in the US before the end of the year. The timing is no doubt intended to coincide with both US elections and the holiday shopping season.

The company has already installed machines in Abu Dhabi, and around Europe, with plans to have 35 machines in place by the end of December. The first US machines will be installed in Florida and Las Vegas.

Customers will be able to use debit cards to buy gold in 1-, 5-, and 10-gram and 1-ounce bars. The machines will also sell South African Krugerrands, Australian Kangaroos, and the Canadian Maple Leaf gold coins.

At about $1,300/ounce, a 1-gram bar will set you back about $46. All bars and coins come in a “precious gift box,” according to the company’s web site. A perfect little stocking stuffer.

The company is missing a great opportunity by not installing one outside the New York Stock Exchange. What better way to get a read on market sentiment than to check the length of the line waiting to buy gold from a machine?

Paul Ausick