What happens to ATM machines when the govt print money?

[DimPrawn]

UK unveils first ATM for gold at Westfield Shopping Centre - Telegraph

All I can say is, money isn't worth tulip.

[TimberWolf]

Shoppers can pick up a 1g coin for roughly £40 or a 250g bar for £10,250.

I could do a better deal than that.

I wonder how you sell those vending machine coins/ingots, is there a vending machine for that? If you have to sell them for scrap value you might end up losing half your admittedly worthless fiat currency.

[Mason Boyne]

I could do a better deal than that.

I wonder how you sell those vending machine coins/ingots, is there a vending machine for that? If you have to sell them for scrap value you might end up losing half your admittedly worthless fiat currency.

Shush now, you'll be upsetting a few people...

[DimPrawn]

You can sell it to any number of "cash for gold" operators, and half your money again.

If anyone actually wants to buy gold at a realistic price I can recommend Buy Gold Bullion Online ¦ Gold Bars ¦ Gold Coins ¦ Buy Gold UK ¦ UK Bullion Dealers

I've used them no problem.

[TimberWolf]

You can sell it to any number of "cash for gold" operators, and half your money again.

If anyone actually wants to buy gold at a realistic price I can recommend Buy Gold Bullion Online ¦ Gold Bars ¦ Gold Coins ¦ Buy Gold UK ¦ UK Bullion Dealers

I've used them no problem.

Have you bought any real gold from them?

[DimPrawn]

Have you bought any real gold from them?

Yes, lots and lots of gold sovereigns. No GCT on them as they are classed as legal tender. Same for Britannias as well.

If the gold price crashes I'll give them to family as presents.

[d000hg]

UK unveils first ATM for gold at Westfield Shopping Centre - Telegraph

All I can say is, money isn't worth tulip.

They have them all over the place in Dubai. Not as good as the airport where you could buy by the kilo... I imagine it to be like buying fudge where they cut off slices from the ingot

[TimberWolf]

Yes, lots and lots of gold sovereigns. No GCT on them as they are classed as legal tender. Same for Britannias as well.

If the gold price crashes I'll give them to family as presents.

What's the bid-offer spread for buying and selling them?

[DimPrawn]

What's the bid-offer spread for buying and selling them?

I believe around 2% for the coins.

Sell to us - Bullion By Post - Gold Bars, Silver Bars and Platinum Bars delivered direct from LBMA approved suppliers

[TimberWolf]

I believe around 2% for the coins.

Sell to us - Bullion By Post - Gold Bars, Silver Bars and Platinum Bars delivered direct from LBMA approved suppliers

Looks great on the surface. They quote 98% of 'spot price', which I hope refers to the spot price of the minted coins/bars you bought rather than bullion spot price, as the coins are much more expensive than bullion per kg?