Vending machines that dispense gold

Vending machines are used in many countries across the world and most consumers are familiar with them.

From food and drink to sports equipment and pregnancy tests, the range of products they stock is broad.

However, one firm has taken this a step further and it is now possible to find a vending machine that dispenses gold.

According to a report in the Sydney Morning Herald, German businessman Thomas Geissler is behind the devices.

Initially, the vending machines were used as a marketing device for an online gold trading business. However, they have become so successful that their inventor plans to roll out a global network.

If the plans go ahead, it may not be uncommon to see a vending machine selling gold in locations such as cruise ships and fitness centres.

Called ‘gold-to-go’, the devices dispense 24-carat bullion.

According to Mr Geissler, gold is a good investment and that is why the machines are proving popular.

He said: “Ordinary people are starting to see its real value.”

The innovator added: “We notice the sales peak whenever there are signs that the markets are wobbling. When the Greek crisis was revealed in its entirety, our sales went up tenfold. With the current troubles in currency markets, gold becomes even more attractive.”

The businessman added: “Germans are still traumatised by the hyperinflation [of the 1920s], when people walked around with wheelbarrows full of notes, while Americans are still traumatised about the Depression.”

Mr Geissler went on to claim that most of the people who use his machines are women and they tend to buy smaller amounts.

However, it is possible to get 250 grams for around €8,000 (£7,105) and these purchases tend to be conducted by men.

The average age of those making such buying decisions is around 55, he pointed out.

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