It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Gold sold like chocolate from German vending machines

page: 1
0

log in

join
share:

posted on Jun, 17 2009 @ 02:15 AM
link   

Gold sold like chocolate from German vending machines


www.telegraph .co.uk

Shoppers in Germany will soon be able to buy gold as easily as bars of chocolate after a firm announced plans to install vending machines selling the precious metal across the country.
(visit the link for the full news article)



posted on Jun, 17 2009 @ 02:15 AM
link   
TG-Gold-Super-Markt aims to introduce the machines at 500 locations including train stations and airports in Germany.

The company, based near Stuttgart, hopes to tap into the increasing interest in buying gold following disillusionment in other investments due to the economic downturn.

---------------------------------------------------------------

What a mad idea, interesting to see that the prices will be update every few minutes and that the gold will cost 30% more than the market rate.

Will be interesting to see how long it takes before one is stolen too as I would have thought security will be an issue.

www.telegraph .co.uk
(visit the link for the full news article)



posted on Jun, 17 2009 @ 02:27 AM
link   
I would think this would lead to somebody or several somebodies simply carting the machine off in the dead of night. The security on these things will have to be pretty extreme for it to be viable.

I read a story not too long ago about a group of Chinese immigrants in Japan who hired a bulldozer and simply bulldozed through the wall of a bank one night and literally tore the ATMs out of the broken wall and drove off with them in a pickup truck or something. Granted, security in Japan in general is lower than in many other places owing to a low crime rate, but it strikes me that a similar manouvre would be much easier with a gold-bar vending machine....you probably wouldn't even need the bulldozer.



posted on Jun, 17 2009 @ 02:51 AM
link   
reply to post by silent thunder
 


Well you would think so wouldnt you. However, if they are going to be installing these things in public places they must have thought of the security aspect.

However, with the value of gold so high at the moment, it will still be a target for criminals, that is a certainty.



posted on Jun, 17 2009 @ 03:04 AM
link   
reply to post by silent thunder
 


Im sure if they are going to be making a 30% markup on the market value of the gold and on top of the hedge price they would have bought that particular gold for.. that they would be able to afford a half decent system for stopping people stealing it...

What I dont get is that..

If these machines are being installed because people are disillusioned at the safety of their cash.. why would they pay 30% extra for the gold? Wouldn't that defeat the purpose?

Maybe it is going to be directed at US tourists who use the dollar? Coz the euro is looking pretty tight for the foreseeable future.



posted on Jun, 17 2009 @ 03:06 AM
link   
I would assume that they would not be filled with more than $50,000 in gold, likely in quarter, half and ounce coins, possibly even 1/10th of an ounce. Who knows, but I doubt the value will exceed much more than some ATM's in high traffic areas. Additionally, a large amount wouldn't be needed, cause anyone seriously interested in buying even several ounces of gold is gonna go somewhere that's not 30% over market.

They also seem to be placing them in 24 hour traffic areas, most, such as airports with their own very strict security. Simply walking off with the machine doesn't seem feasible.

In reality, I think it wise for anyone investing in gold to consider a large amount of silver as well. If a situation actually came down to bartering, you would have to be receiving something awfully amazing to part with a full ounce of gold. Parting with silver would make sleeping at night easier.



posted on Jun, 17 2009 @ 03:06 AM
link   
this seems kind of stupid....why would you buy gold from a vending machine?

it seems sort of convenient(??????)
but then youre lugging around a heavy metal.
buying gold seems like something more suited buying from a gold dealer as opposed to buying it on a whim while waiting for a train.

and ps:
im expecting there to be a bit of a problem with the machines eating people's money.



posted on Jun, 17 2009 @ 03:13 AM
link   
YAY , gold from a vending machine, wonder if it will be liek when you put your coin in and 2 fall out , or wonder if you can rock the machine to get the gold out without paying for it?
Hmm I even wonder if I'' get a chance to try before the machine is stolen or broken into?

Or, I wonder when you buy the gold from the machine if your going to be watched and then robbed when your about to get into your car?

[edit on 17/6/09 by DataWraith]



posted on Jun, 17 2009 @ 03:15 AM
link   
reply to post by ELECTRICkoolaidZOMBIEtest
 



but then you're lugging around a heavy metal.


If I could buy enough gold to make it's weight a problem I wouldn't be buying it from a vending machine, just sayin...


As for me it gives me a sense of security to have gold, real gold in my pocket, versus any other form of currency.

Of course I can't use it on a shopping spree but that's the plan baby, lol, I have more that way.

All kidding aside I think it's a great idea - I'd buy some.

peace



posted on Jun, 17 2009 @ 03:22 AM
link   

Originally posted by king9072

In reality, I think it wise for anyone investing in gold to consider a large amount of silver as well. If a situation actually came down to bartering, you would have to be receiving something awfully amazing to part with a full ounce of gold. Parting with silver would make sleeping at night easier.



Disclosure: I am a gold investor and have holdings in other precious metals as well. The following is not a recommendation to buy, sell, or hold any investment, yadda yadda.

While I agree silver is an excellent long-term investment, and have staked a substantial amount of money in it, I don't actually expect things to reach the level where people are bartering with raw metals (although this may go on to some limited extent). Although quite a pessimist, I'm not quite apocalyptic enough to believe that fiat currency in some form (either paper or electronic) will completely disappear.

One can certainly invest in precious metals with the expectation that severe inflation will bring further gains, without imagining that we'll eventually be using gold leaf or silver shavings to buy a loaf of bread at the corner store. That would imply a nearly total breakdown of society -- I find a partial breakdown much more likely.

Besides, in a scenario where we move to a pure-metal economy, very few people would possess the expertise to easily discern whether a given coin (or token, "round," bar, or what have you) of precious metal was pure or not, or to quickly calculate carat, etc.



[edit on 6/17/09 by silent thunder]



posted on Jun, 17 2009 @ 03:39 AM
link   
omg, some of you have me laughing so hard I've got tears in my eyes and I can't even see what I'm typing...

Everything about this just seems to have 'mistake' written all over it (as so many of you have already pointed out in the most primal of ways), so I have to assume they have planned for this and will set it up accordingly... I guess??



posted on Jun, 17 2009 @ 11:12 AM
link   
Kinda dumb.. I buy gold all day at 30% market value and sell it back off at 75% lol ..
Then the jewelers resell that at 110% and we all make out


But i work at a pawn shop so i guess anything at 50%+ market value is crazy to me !!



posted on Jun, 17 2009 @ 11:16 AM
link   
criminal won`t target the machines , they will watch the people buying it and mug them.



posted on Jun, 17 2009 @ 11:36 AM
link   
I'd like to ask, does anyone here who buys gold actually have any of it, or do you just get gold bonds, or certificates?

If the latter, then I'd say this is a good idea and I'd probably buy some. 30% market value? Who cares! I'm actually buying gold and not some piece of paper that tells me I own gold, thats what money was originally for and we've seen where that's led us.

I'd have to agree with the security issue though. They could make it as big and as heavy as they want, but to guarantee people's safety as they go to these things is much more.

You could say that it's the same as an ATM, but gold is much more appealing than money, especially to people who don't know it's worth.

EMM



posted on Jun, 17 2009 @ 06:29 PM
link   

Originally posted by silent thunder

Originally posted by king9072

In reality, I think it wise for anyone investing in gold to consider a large amount of silver as well. If a situation actually came down to bartering, you would have to be receiving something awfully amazing to part with a full ounce of gold. Parting with silver would make sleeping at night easier.



Disclosure: I am a gold investor and have holdings in other precious metals as well. The following is not a recommendation to buy, sell, or hold any investment, yadda yadda.

While I agree silver is an excellent long-term investment, and have staked a substantial amount of money in it, I don't actually expect things to reach the level where people are bartering with raw metals (although this may go on to some limited extent). Although quite a pessimist, I'm not quite apocalyptic enough to believe that fiat currency in some form (either paper or electronic) will completely disappear.

One can certainly invest in precious metals with the expectation that severe inflation will bring further gains, without imagining that we'll eventually be using gold leaf or silver shavings to buy a loaf of bread at the corner store. That would imply a nearly total breakdown of society -- I find a partial breakdown much more likely.

Besides, in a scenario where we move to a pure-metal economy, very few people would possess the expertise to easily discern whether a given coin (or token, "round," bar, or what have you) of precious metal was pure or not, or to quickly calculate carat, etc.



[edit on 6/17/09 by silent thunder]



It's called hyper inflation, and your right the fiat currency will still be there. But, it will require an entire wheelbarrow or suitcase full to buy a loaf of bread.

Or perhaps, a quarter ounce of silver. That was my rationale.



new topics

top topics



 
0

log in

join