The launch of the latest Gold-to-go ATM, at the Westfield Shopping Centre in London
Image Gallery (10 images)Since we first brought you news of the installation of the world's first permanent gold-dispensing ATM in the Emirates Palace Hotel in Abu Dhabi, the company behind the innovation has rolled out the machines throughout the United Arab Emirates and Germany, and broke into Italy and the U.S. Luxurious venues chosen for the Gold-to-go machines have so far included the Golden Nugget Casino in Las Vegas and the 124th floor of Dubai's Burj Khalifa. For London, though, the new home for the UK's first vending machine is ... a shopping center.
Ex Oriente Lux AG and London partner Zen Gold have chosen the Westfield Shopping Centre in London as the home for the UK's first gold-issuing ATM. Users will be able to order up various sizes and values of gold bars and coins, with a LAN-based secure network internet link to Gold-Super-Markt updating prices every 10 minutes. A special 2.5 gram (0.9 ounce) gold bar been also been produced as a souvenir of the launch, with the London skyline engraved on its back.
All 24-karat gold dispensed from the suitably-gold-colored Gold-to-go ATM comes in a gift box and carries a money-back guarantee. Selections are made on a 19-inch touchscreen display with reinforced glass, payment can be made by credit card or cash, and the internal computer is connected to a UPS (uninterruptible power supply) system to help guard against power fluctuations.
While Paul is loath to reveal his age, he will admit to cutting his IT teeth on a TRS-80 (although he won't say which version). An obsessive fascination with computer technology blossomed from hobby into career before the desire for sunnier climes saw him wave a fond farewell to his native Blighty in favor of Bordeaux, France. He's now a dedicated newshound pursuing the latest bleeding edge tech for Gizmag. All articles by Paul Ridden
Does this maybe signify the beginning of the end of currency? Are we going back to the gold standard? Or is it just a goofy trend, a novelty?
Skeptical Jones6th July, 2011 @ 08:28 am PDT
This looks cool but I'll be impressed when they start dispensing iridium.
VirtualGathis6th July, 2011 @ 08:59 am PDT
Money back guarantee??? I wonder; would they only pay you back the original price if gold gone up and pay you only the real gold value when it is down in price? yet another legal way to get money from the crowd.
Philippe Heeren19th July, 2011 @ 11:45 pm PDT
This is just another gimmick to rip people's money off, at least it's rich people they're scamming. The only sad thing is that Beck and cronies seem to have had more impact with their market manipulations than I thought.
albalma20th July, 2011 @ 07:59 am PDT
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I can picture someone trying to tow this behind a pickup truck and smoking the tires whilst getting nowhere.
Denis Klanac5th July, 2011 @ 06:26 pm PDT