Vending Machines to Offer Gold

Japan entrepreneur Rokugawa plans to take his 'gold to go' business "nationwide" next year and is considering entering the Hong Kong market, he said.

Rokugawa said he may expand the business to platinum and other precious metals. The entrepreneur said he was encouraged by the gold-vending business in Europe, which has seen client numbers climb since their introduction in 2009.

The most expensive item available in Rokugawa's machine was a 7.2-gram gold coin issued by the Canadian central bank, retailing for about $410. Rokugawa declined to say how much gold will be kept in the machine at any one time.

Japan has a vending machine for every 32 people, according to Bloomberg calculations. The nation posted ¥5.1 trillion in vending machine sales in 2009, about 45 percent more than the $42.9 billion revenue in the U.S., according to the Japan Vending Machine Manufacturers Association.

Germany’s Ex Oriente Lux, which makes bullion vending machines under the Gold to Go brand, said in September it plans to more than triple the number of machines in operation. Ex Oriente Lux AG, which says it was the first to install a gold-vending machine, operates 11 machines domestically and five abroad, including in Spain and Italy.

TG-Gold-Super-Markt in June 2009 installed its first gold bar vending machine at the Frankfurt airport,

Gold for immediate delivery has gained in each of the last 10 years, rising 30 percent in 2010. The metal's biggest one-day jump in the last 12 months was 3.3 percent and the biggest decline was 4.1 percent.

Silver coins will range from 15.5 grams to 62.2 grams, or 2 troy ounces, in weight, according to the company's catalog distributed at the opening event. Precious metal coins from the central banks of China, Australia and Canada will be on offer, the catalog showed.

Source:
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