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ATMs Dispensing Gold Bars in USA

Posted By Jim On 09/29/2010 @ 12:06 pm In NEWS | 20 Comments

Earlier this year, you probably read about the ATM in Dubai that dispenses gold bars [3] and laughed at its excess. Gold has become a hot investment topic as it rockets to $1300 a troy ounce, but an ATM that dispenses gold is something that only works in the business oasis that is Dubai, right?

It turns out that the German company that installs and runs the gold ATMs is planning on expanding into the United States this year. The company’s name is Ex Oriente Lux and the ATMs, named Gold to Go [4], are going to start numbering in the hundreds [5] by next year. The machines update the price of gold ever ten minutes and dispenses gold in 1 gram, 5 gram, 10 gram, and 1 ounce units. It will also dispense coins like the South African Krugerrands (1/10th ounce, 1/4 ounce, and 1 ounce), Australian Kangaroos (1/10th ounce and 1 ounce) and the Canadian Maple Leaf (1/10 ounce) in a “precious gift box.”

Think these are necessary or just capitalizing on a craze? Doesn’t this sound very… mmm… frothy?


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[2] Email: mailto:?subject=http://www.bargaineering.com/articles/atms-dispensing-gold-bars-usa.html

[3] ATM in Dubai that dispenses gold bars: http://blogs.ft.com/beyond-brics/2010/05/13/abu-dhabis-gold-atm-machine-a-sign-of-more-opulence-to-come/

[4] Gold to Go: http://www.gold-to-go.com/en/

[5] start numbering in the hundreds: http://www.cnbc.com/id/39381947

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