26 Jan '11, 3am

Japan, land of the vending machines, is unveiling a new one that dispenses gold

Japan, land of the vending machines, is unveiling a new one that dispenses gold

A model displays Japan's first auto vending machine for gold and silver coins in Tokyo at a press preview. -- PHOTO: AFP TOKYO - JAPAN, which sells everything from live crabs to used lingerie in its ubiquitous automatic vending machines, is now staking its claim to a precious new market: gold. A Japanese computer parts manufacturer and gold importer, Space International, has put gold into vending machines - in the form of gold coins and bars - in the hope of luring more customers to buy the metal. Risk-averse Japanese have traditionally bought gold rather than other metals or exchange-traded gold funds, but the process by which they are purchased has remained bureaucratic and complicated for some would-be buyers. 'We were selling gold items through mail order until last year and thinking about ways to reduce commissions and avoid the annoying registration process,' said Ma...

Full article: http://www.straitstimes.com/BreakingNews/Asia/Story/STISt...

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