Gold Vending Machines . . . it's for real

Operators are always looking for locations that are "golden".  Well, Thomas Geissler, the chief executive of TG-Gold-Super-Markt, has taken this one step further.  His company is selling gold out of vending machines. 

His company's first location is the Frankfurt Airport and they plan on up to 500 locations in Germany, Austria and Switzerland.  Using today's technology, his company can update the sell price every 2 minutes besides producing a machine with security like a tank.  Currently, a 1 gram bar is selling for around $42, a 10 gram bar around $344.

Will this idea work?  I don't know but it certainly is indicative of the current economic climate.  While Geissler doesn't expect serious gold buyers to stock up out of a vending machine, the company does see the idea as a way to reach new markets and provide opportunities for people to make a spur of the moment purchase for gifts. 

Check out the article and let me know what you think . . . CLICK HERE

rick.solomon@veii.com

FOLLOW UP . . . MSN Money rates the purchasing gold out of a vending machine as one of the "top 10 idiotic investment ideas" so far this year.