Markets in Everything: Gold Vending Machines
BEIJING, September 25, 2011 - "China, already the world's second largest bullion consumer, has installed the country's first gold vending machine in a busy shopping district in Beijing. Shoppers in the popular Wangfujing Street can insert cash or use a bank card to withdraw gold bars or coins of various weights based on market prices. Each withdrawal is capped at 2.5 kilograms (5.5 pounds) or one million yuan (about $156,500) worth of gold."
7 Comments:
they need to kick this up a notch.
they should add a LOTTERY option!
for a "little bit more" - you get the gold plus they enter you in the super mondo gold bar lottery....
Man, oh man, let's counterfeit some yuan, go to this machine, get the gold, and on the first flight to Bangkok baby.
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That's one thing that China can't counterfeit. They can only lessen its purity.
Sure they do. Look into gold-plated tungsten.
I wish there was one of these for silver. Can't seem to find actual physical metal at the new low spot price for some reason...
Sure they do. Look into gold-plated tungsten.
Again, lessened purity - as there is gold plating. I'm quite aware of "gold" bars that are actually tungsten underneath.
What I was meaning is that they cant chemically create gold.
In that case, they could just use the existing gold ETFs.
No actual gold required for those either.
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