A caplet dipping machine includes a caplet holding plate including sets of caplet gripping collets on both sides thereof so that caplets can be dipped on one end, pushed through the plate and dipped at the other end. The collets on one side are mounted back-to-back with the collets on the other side in apertures formed in the holding plate. Caplets are fed into the collets on one face of the holding plate by a loading plate which receives the unfinished caplets from a hopper. A plurality of loading transfer pins push the caplets through the first set of collets to the second set of collets on the bottom face of the holding plate. The caplets are then dipped in a first gelatin bath, flipped by a first plate flipping mechanism and dried in a first drying section. The caplets are next pushed through from the second set of collets back to the first set of collets by a second set of transfer pins before passing through a second gelatin dipping bath. A second plate flipping mechanism then inverts the plate for a second time and the plate proceeds from there through a second drying section. A third, or exit, transfer means then pushes the finished product into a receiving bin. An improved coat is also achieved by the use of a pair of annular gelatin holding pans through which gelatin continuously flows under the influence of an impeller located between the pans. It is possible for the apparatus to operate at high speeds and high efficiencies due to the large capacity of the plates and the clean, open architecture of the system.