You Can Now Buy Gold Bars From Vending Machines in South Korea
Record prices and the micro-investing trend are fueling demand.
In Seoul, vending machines are selling gold in weights that start at less than 1 gram. (The nugget above is 1 ounce, or a little over 28 grams.)
Photographer: Brendon Thorne/Bloomberg
At the corner of a bustling street in Seoul’s affluent Gangnam district, there’s a convenience store with the usual offerings: magazines, toilet paper, an overly generous selection of beverages. But next to the cashier counter stands a tall vending machine that sells a much more unexpected product—gold.
The machine at GS Retail Co.’s convenience store sells gold bars from as big as 37.5 grams (1.32 ounces) to as small as less than 1 gram. Prices change daily, reflecting wider market movements, but start at about 88,000 won ($64) for a 0.5-gram bar.