Germans flock to gold bars vending machine at Frankfurt airport

Germans flock to gold bars vending machine at Frankfurt airport

Germany has devised the ultimate in credit crunch vending machines: Gold to Go.

After inserting your euros in the slot there is a familiar whirring noise as if the machine is readying itself to spit out a can of lemonade or a bar of chocolate. Instead there is a satisfying clunk as a prettily wrapped bar of the world's favourite precious metal thuds into the dispenser.

"It's better value than the bank," Romy Erhardt of TG-Gold-Super-Markt told The Times, "And it's very convenient — no waiting time — you just put in your cash and a minute later you are an investor in gold."

The prototype gold-dispenser has been installed in Frankfurt airport and today there was a queue of passengers mulling over whether to buy one gramme, 5 grammes or ten grammes of gold.

The one-gramme bar was available for €30 (£25). Other options — rather like a high-end coffee machine it has five selections — included a Maple Leaf Five Canadian dollar coin and a Kangaroo Fifteen Australian dollar coin. Both represent about one tenth of an ounce of gold and the price on today was hovering around €80.

"The price is updated every 15 minutes," Ms Erhardt explained. "The vending machine is linked to the computer which we use for our online gold outlet."

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The online company Cash4gold.com meanwhile is reporting 25,000 transactions a month. And Exboyfriendjewelry.com — whose testimonials are full of stories about the cathartic effect of selling jewelery given by former husbands and lovers — is thriving.

The Germans are particularly interested, partly because of the collective memory of the currency collapse after two world wars.

Some high street jewellers even buy dental gold to be melted down. "German investors have always preferred to hold a lot of personal wealth in gold, for historical reasons," said Thomas Geissler, head of the Stuttgart-based TG-Gold-Super-Markt.

There is a German fascination with gold that goes even deeper than anxiety about failing currencies. One of Germany's best loved fairy tales, a classic bedtime story, features a donkey that excretes gold coins every time that one shouts the magic word "Bricklebrit!"