Do any dealers utilize coin vending machines?

tydye

I read in this months Money Magazine (I thing that was the mag) that Germany has gold coin vending machines. I remember a dealer from about 10 years back in that had placed various coins in a bubblegum machine (everything from 10 wheats to a silver dollar) for 50 cents. Of course there were more wheat containers than Morgans but I thought it was a cool idea.

ASE would probably be a good choice for a vending machine.

COALPORTER

Do you think they talking about Euro coins? They are gold colored. ASAIK, no place has circulating gold coins.

tydye

Nope I just went and looked it up. Jan/Feb Money page 168 quote - "gold is sold like candy out of train station vending machines in Germany"

Ciccio

<< <i>Nope I just went and looked it up. Jan/Feb Money page 168 quote - "gold is sold like candy out of train station vending machines in Germany" >>



You are right but there no coins, just gold bars.
You can see the Vending machine here.
My wife was in Germany in October but she couldn't find any. There are just a few or the time being.

sinin1

the last time I flew a few months ago, I was shocked to see a Kiosk/vending machine selling Berlitz language courses for $450 and another next to it from 'Best Buy'? selling higher end electronic gadgets - both had credit card readers and can't remember if they accepted cash bills as well.

Probably not too far fetched to be selling MS65 Morgans or Saints like candy bars where people have time to kill.

SaorAlba

I can remember in the train station in Hamburg there was a coin dealer in the mall area there. High prices though.

mkman123

This would be a really cool idea and would probably do very well!

Weiss

I think it's an interesting idea. But you can't see reverses. So you'd probably have to stick to modern mint issues, maybe smaller bullion. Some products that might work well:
SAEs, 1-oz silver bars, mint sets/proof sets. Maybe 5- and 10-piece collections of average circulated type coins.

ColonialCoinUnion

BBN

A gold bar machine would be cool selling 1 gr bars. A vendor would probably gouge the prices though like to the tune of $50 per sale.

Weiss

Well done, ColonialCoinUnion!!

WaterSport

LOL!

I can see that machine getting kicked and titled all day long LOL

WS

shorecoll

CCU your machine is out of Fugios, can you send the guy out to fill it up!

PTVETTER

As strange as it may seem, I could see a coin vending machine for real.

Not for high grade or high dollar coins, but common date lower grade coins!

renomedphys

The coin vending machine is a fascinating idea. I could totally see people buying rolls of mixed wheats (1 steelie in every roll), buffalo bags of 10, Walkers and Frankies and Morgans, Oh My! Probably no gold, though.

I know I wouldn't be looking for a score, but stuff like that makes great stocking stuffers for your little budding numismatists.

tydye

State quarters would of been the thing to sell in one of these. 50 cents each.

tydye

I bet the CRO vending machine would be a hit at a show. No worries about manning your booth at a show. Touch screen to view the coins within.

Bochiman

I saw something along these lines....not so much of a vending machine though, but it was one of those "game" machines....where you put in money to get credits and try to knock things through the hole or use a claw to grab stuff.
It's been about 3-4 years, I forget where I saw it.....I do recall it had crappy coins in it but they were "old" so I am sure they go some suckers on it. These coins were problems coins that would go for melt.

Walmann

I do remember back in the 70's the local coin shop used a large gumball machine, placeing cents, nickels, mercs and the like inside the bubble containers.

At 25c a pop almost all the coins were a big profit, but as a kid it was great fun getting an indian cent, buffalo nickel or mercury dime.

It sure beat the rubber spider rings the other vending machines offered.

scotty1418

This would be really cool for a big show - and I bet sales would be better than just a normal dealer selling SAE's because of the novelty of the concept.

Walmann

PCGS should have a couple of slot machines, at the Vegas PCGS show, paying out real silver dollars (uncertified ones of course that way they can get a couple more bucks for grading em).

ricko

Somehow, I can not seem to even get interested in buying a coin from a vending machine. I need to see the coin up close and personal. In addition, you can be sure there is a large, built in profit on any coin purchased in this manner. Not for me. Cheers, RickO

renomedphys

<< <i>Somehow, I can not seem to even get interested in buying a coin from a vending machine. I need to see the coin up close and personal. In addition, you can be sure there is a large, built in profit on any coin purchased in this manner. Not for me. Cheers, RickO >>



Now RickO, you know we're not talking about selling rarities, or even anything worth more than a few dollars. I picture the type of coins that you'd find in the bargain bin at most shops, with a markup that closely matched the degree of novelty involved. I think I'll pitch this idea at my local B&M and see what they think. Love the IHCs and Buffalos in a gumball machine. Makes perfect sence to me, as there's almost no problem finding these for less than 50 cents in bulk, and occasionally, the buyer could score a $2 coin.

swhuck

At one of the first coin shows I ever attended, in the early seventies, one of the dealers had a bubble gum vending machine with capsules with coins in them. The price was a quarter, with values "up to $2". The capsule I got contained two AG-G Barber Dimes, a 1912-D and a 1914. I think I did OK; in fact, I probably still own the coins.

I've occasionally seen these kinds of machines since, including one at a truck stop in West Texas maybe 10 years ago.

I think I've also seen a slot machine or three in Reno that paid off in silver dollars or silver rounds; however, I never won anything so I don't know whether the coins dropped into the slot or were available elsewhere.