Harrods to sell gold bullion for first time

Weiss

In a sign that the credit crisis has left his gilded customer-base largely untouched, Harrods owner Mohamed Fayed has teamed up with Produits Artistiques Metaux Precieux (PAMP), the Swiss refiner, to sell gold in the store.

Mehdi Bakhordar, managing director of PAMP, said: "Harrods stock our full range and are now the only location in London where investors can purchase a 12.5kg gold bar 'off the shelf'."

retail bullion

I know Harrods is known for carrying "everything" the well to do could want. But can you imagine buying a half-million dollar LGDB retail?

Kameo

A few weeks back I saw this piece on the news, over in Europe, they now have vending machines that dispense gold. One thing is certain, gold is hot right now and everybody wants some.

MoneyLA

the last time I saw anything CLOSE to this was when KMART (of all stores) was selling the silver bicentennial proof sets during the bicentennial and before the run up in silver.

when the US mint first started to make bullion coins, the early press releases from the mint envisioned the day when these would be sold at department store jewelry counters.

and indeed the early articles in the WSJ picked up on this, but it never happened to the best of my knowledge.

I think this idea rests in the "great room of ideas" along with the plan to have coffee shops where folks would sit and watch the lottery games that would be broadcast every ten minutes on closed circuit TVs.