Gold Vending Machines
I think that these gold vending machines might do really well in the United States, especially as more people figure out that paper money is basically worthless:
Long attracted to the safety of solid gold, Germans will soon be able to sate their appetite for the yellow metal as easily as buying a chocolate bar after plans were announced on Tuesday to install gold vending machines in airports and railway stations across the country.
The venture by the TG-Gold-Super-Markt company, based near Stuttgart, aims to build on soaring retail interest in gold purchases after a loss in confidence in a range of other investments as a result of the financial crisis.
More from the NY Times:
Within three months, Mr. Geissler’s company, TG-Gold-Super-Markt, plans to have “a substantial number” of machines up and running in Germany, Austria and Switzerland with hopes for 500 around the world. He is aiming for a franchise model in which clients buy the machines, which cost 20,000 euros, or about $28,000, and then pay to have them serviced by TG-Gold.
RedHotFranchises on June 19th, 2009 4:34 am
Paper money is basically worthless and people nowadays are buying up more gold to back it up, so this is a great and imminently exportable idea. We should be able to see this all over the world soon.
Jaclyn on June 22nd, 2009 1:48 pm
It is true…paper money is actually only worth a fraction of it’s face value. Gold and silver however have always been worth quite a large sum of money, yes granted their prices do fluctuate from time to time depending on the market at that day, but they never drop so far that they are considered to be worthless.
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