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World’s first vending machine for gold installed in Tokyo

World’s first vending machine for gold installed in Tokyo
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First Published: Wed, Jan 19 2011. 02 45 PM IST
Updated: Wed, Jan 19 2011. 02 45 PM IST
Tokyo: The world’s first gold-selling vending machine has been installed in Tokyo, the Japanese Capital.
The special vending machine, which sells gold coins and bullions weighing from one to seven grammes to anyone wishing to do so, has been devised by the Space International Ltd Company.
The sole vending machine of its kind is installed here in a downtown building that houses the Company’s office. Another such vending machine is to be installed soon at Imperial Hotel in downtownTokyo.
The price of gold sold by the hambaiki is regulated every day in line with the stock market current prices. A gold coin weighing 7.2 grammes, issued by the Central Bank, is now the most expensive commodity sold by this vending machine at a price of approximately $410.
Company CEO Makishi Rokugawa points out, “It may so happen that waking up one day you would realize that all your money turned into a mere paper. This is why, I am sure that gold is the best way of monetary investment.”
Rokugawa told journalists that his company got far reaching plans for developing vending machines to sell precious metals. Next year the Space International is planning to reach out to the nationwide level, siting similar vending machines in a majority of large cities of Japan.
The Company also mulls in earnest over the possiblity of getting to the market of Hong Kong.
On the last day of 2010, gold price bounced up to an all-time high.
Many analysts are inclined to think that gold is currently the most optimum object of financial inputs. Besides , gold has been always immensely popular in China and India -- the two most rapidly developing economies of our time.
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First Published: Wed, Jan 19 2011. 02 45 PM IST
More Topics: Japan | Vending Machine | Gold | Bullion | Investment |