The present invention dispenses hot coffee or other beverage by the cup at a selected temperature, which can be varied from cup-to-cup. The beverage is brewed in a conventional way, and in one embodiment is stored in a conventional holding tank at elevated temperature. The holding tank communicates with two smaller reservoirs. A quantity of beverage is stored in a first reservoir at an elevated temperature, at or above the maximum desired dispensing temperature. A second quantity of beverage is cooled and stored in a second reservoir at a lower temperature, at or below the minimum desired dispensing temperature. When a cup of beverage is to be dispensed, the temperature is selected, and a quantity of beverage is dispensed from each of the reservoirs, proportioned so that the resulting dispensed beverage is at the selected temperature. In another embodiment, the first reservoir is omitted, and beverage from the holding tank provides the elevated temperature beverage for mixing. In several other embodiments, no cooling mechanism is needed. Instead, the holding tank is at a cooler temperature than the lowest vend temperature, and the beverage must be heated to the hot reservoir temperature and, in one embodiment, the cold reservoir temperature. In another embodiment, the holding tank functions as a cold reservoir. In still another embodiment requiring no heaters, the holding tank is eliminated, and the beverage is held in insulated chambers at the higher and lower temperatures.