Gold Vending Machines In Europe!

[airborne1092]

http://www.thelocal.de/society/20090622-20101.html

From The Local (an English news outlet covering Germany and Sweden, mainly)

"Tired of buying perfume or chocolates for your spouse while flying home? Looking for a special and safe investment in these turbulent times? AFP's William Ickes reports on Frankfurt airport's new gold vending machine."

"...Geissler's vending machine will sell packets containing from one gram for around €30 ($42) at present to five and ten grammes for about €245, along with Australian "Kangaroo" and Canadian "Maple Leaf" coins...Software developed by his firm updated prices every two minutes, he stressed, which meant "we will have nearly a real time price compared with the London gold market."

[cyberdan]

"...Geissler's vending machine will sell packets containing from one gram for around €30 ($42)

At todays rate of $920 that is a 42% profit. Gold will have to go up to $1306 before anyone will break even. (today 1gr of 24kt = $29.58)

[airborne1092]

This guy said he's selling gold from his machines at a lower cost than if you were to buy it over the counter; If I could find a place that sells it over the counter for this machine price, then as an American I could buy it and be exempt from the 19% MwST (Mehrwertsteuer, or luxury tax) that's automatically build in to all consumer prices here in Germany....

That Hugo Boss store is about 15 minutes south of where I live. My wife was joking - saying it prolly has the HB logo on the gold! LOL

[jim4silver]

This guy said he's selling gold from his machines at a lower cost than if you were to buy it over the counter; If I could find a place that sells it over the counter for this machine price, then as an American I could buy it and be exempt from the 19% MwST (Mehrwertsteuer, or luxury tax) that's automatically build in to all consumer prices here in Germany....

That Hugo Boss store is about 15 minutes south of where I live. My wife was joking - saying it prolly has the HB logo on the gold! LOL

Are you allowed do buy gold from other countries without paying the tax? What about old coins like francs, marks, etc, do that tax that too?

Do you have to pay that tax on everything? I have never heard of that before. Pretty amazing.

Jim

[airborne1092]

Americans here in Germany (and other countries) use a VAT (Value Added Tax) form to recoup the 19% (in Germany) on any retail purchase. Food is exempt and if it's over 2500 Euro then we have to do a few extra steps - basicaly the VAT office has to make the purchase on our behalf, we do the leg work, like obtaining a "cost estimate."

Most places take it - all of them should - and I just try not to shop at the ones that do not. I always carry a form with me in the car and I always ask if they'll take it.

[davidjoshua00]

Well, this vending machine is the so beautiful, gold vending machine. I think this vending machine is required a lot of cameras for that bad intention to a vending machine.