We had earlier read about how Dubai and other Arab cities have begun to use ATM machines to dispense bars of gold. While that may have sounded ridiculous back then, it may soon be a common sight right in the U.S. and may be in other countries as well. The German company that manufactures the ATM machines that dispense gold, has decided to introduce them in the U.S.
Thomas Geissler, creator of the Gold to Go brand and chief executive of Ex Oriente Lux revealed that a “couple of hundred” machines would be installed in the U.S. next year. That is quite a lot of ATM machines that dispense gold, if you asked me. The first gold ATM in Abu Dhabi’s Emirates Palace hotel created such a buzz in May that many people travelled to the emirates just to take a look at the machine.
The machines also update gold prices every 10 minutes and accepts cash or card to dispense 1 gram, 5 gram, 10 gram and 1 ounce units of gold. It also would dispense coins such as South African Krugerrands, Australian Kangaroos and the Canadian Maple Leaf. China and India could see the gold ATM machine by next year as well.