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Gold bar

Discussion in 'Downtown Hotels & Casinos' started by bananaman, Jul 31, 2013.

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  1. bananaman

    bananaman Tourist

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    I understand you can purchase a real gold bar from a vending machine at the Golden Nugget???? For real? Any idea of the cost?
     
  2. PopMegaphone

    PopMegaphone VIP Whale

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  3. squidward

    squidward Probationary Member

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    I don't know why but I always check the price of gold on this machine when I walk by in the hopes that there is a computer glitch moving the decimal point a few digits to the left... it has been accurate so far?
     
  4. pompous

    pompous Low-Roller

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    Might be a decent way to "lock in" some winnings lol
     
  5. Oxygenator

    Oxygenator Low-Roller

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    I Always look as well. Physical Gold is a part of my portfolio , so I have a good grasp of current Gold prices. The Gold in the machine is marked up, buy 10 or so percent, higher for the fancy coins.
     
  6. tatterdema

    tatterdema VIP Whale

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    Yeah, I wanted to buy one for a gift, just for shits and giggles. Way to high priced for just a gag gift (it is real gold after all, not sure what I was thinking). I took a picture of the machine with the size of the bars, and will try to add it later if I can find it. The smallest one was really really small. I would probably lose it.
     
  7. ernestoc33

    ernestoc33 Low-Roller

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    This is so cool. I'm going to check this out next time.
     
  8. 2VegasNuts

    2VegasNuts High-Roller

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    It's a cool machine. Right next to the large gold nuggets in the case. 1g gold "bar" (more like a trinket) was $87 on Wed 7/24. I thought it was a mistake as that is about a 100% markup.
     
  9. Bookkeeper

    Bookkeeper Tourist

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    Bought a silver coin out of the machine last month just for the heck of it.
     
  10. Someone

    Someone High-Roller

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    did you happen to check what the markup over spot price was?
     
  11. Film-Noir

    Film-Noir High-Roller

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    Above spot

    In Feb, during the Super bowl Week @GN, it was Approx. $170+ above spot, for a 1 Oz Credit Suisse.
     
  12. tatterdema

    tatterdema VIP Whale

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    So, this peaked my interest because I remembered when it was brought in, it was advertised basically that they were selling at going rates. It is also marketed as a gold dispensing ATM. Seems kind of disingenuous if the prices are actually that much higher. Here are a couple articles saying the prices are updated every 10 minutes.... The USA one says there is no commission per se, but the prices are "slightly" higher than market price.

    http://www.travelweekly.com/North-America-Travel/Golden-Nugget-offers--Gold-to-Go--with-new-vending-machine/

    http://travel.usatoday.com/destinations/dispatches/post/2011/01/las-vegas-atm-dispenses-gold/138002/1
     
  13. Someone

    Someone High-Roller

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    thanks for the answer it looks like that was about 10-11% over spot at that time when gold was just under $1700 per oz

    I would say if that was the case that was not too bad of a price for a retail sale with instant availability and a known mint.....unfortunately the beating on that purchase since that time makes that $170 retail price addition more painful, but it is still a neat souvenir that will have more long term value than most
     
  14. tatterdema

    tatterdema VIP Whale

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    Thanks! That puts it a bit more in perspective. I guess a 10% mark up isnt that awful. Comparable to a cash advance on some credit cards.
     
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