In one of the latest ventures targeting the world's economic uneasiness, you may soon be seeing not your typical cash ATM but an ATM that sells and dispenses gold. The gold is available in either bars or coins in different denominations from gram(s) to 1 ounce. Depending on your budget, purchases can be made by inserting either cash or credit card into the machine with the transaction being completed by the customer using a touch-screen computer to select the weight and style they want. Prices are in real time with the machine being updated every 10 minutes or less to reflect current world gold prices. One of the first such machines in the US to dispense gold bars and coins was in 2010 in a Boca Raton, Florida shopping mall.
Since then these 'golden' machines have made an appearance in Las Vegas - where they are are a perfect fit. Vacationers to the city can take their winnings, go directly to the gold ATM machine and make a 'wise' investment. The Las Vegas owner expects his venture to do equally as well as the one in Florida which is refilled about every three days. Enterprising entrepreneurs around the world are joining in on this modern way to deliver gold and you'll find ATM machines are popping up in the United Kingdom, Dubai and Germany as well.
Some typical features of these 'ATMs' are:
Offer multiple products
Multi-lingual touch screen purchase
Accepts local currency or credit card
Receipt for purchase
Video surveillance for security
While the convenience of these gold ATM machines is becoming more popular, the buyer should note that they are paying for the convenience with some ATM machine companies charging upwards of 25% or more over gold spot value for the items being sold.
And, it should be noted that these machines could be targeted by thieves although most locations have state-of-the-art alarm systems and are reinforced with steel... not to mention being monitored by closed circuit television surveillance.
When all is said and done it would seem that these newest gold ATM machines offer a quick, easy way to invest in the gold market.... if you don't mind paying the sometimes over the top commission for the convenience.
