First Gold Vending Machine Opens In Boca

[sixmile]

http://www.sun-sentinel.com/business/fl-gold-vending-machine-20101217,0,4105899.story

'What's being billed as the first gold-dispensing ATM in the nation opened for business Friday at the Town Center Mall in Boca Raton, spitting out an after-dinner mint-sized gold buillon into the palm of its first customer.

The "Gold to go" gold buillon vending machine, developed by the Germany company Ex Oriente Lux AG, was brought to the states by PMX Gold LLC, a South Florida business that buys and sells lease purchase options on gold mines. Twenty GOLD to go ATMs already are operating in malls, hotels and airports in Europe and the United Arab Emirates.

The first one installed, at the luxury Emirates Palace Hotel in Abu Dhabi, is so popular that its inventory needs to be replenished daily, said Ex Oriente managing director Thomas Geissler. He believes the concept will be equally successful in upscale U.S. communities like Boca. "Americans like vending machines," he said. Another ATM will be unveiled in Las Vegas by the end of the month.



The shiny gold-colored metal box, about the size of a phone booth, is in the middle of the mall concourse leading to the food court. Buyers can chose from four weights of .999 Pure Credit Suisse gold buillon bars and two weights of U.S. minted American Eagle gold coins.

Prices on Friday ranged from $122 to about $1,400, and are updated every 10 minutes to keep current with gold rates. The only takes U.S. dollars but will later be updated to take credit cards, said PMX president and CEO Michael C. Hiler.'

video at link

[charlie and algernon]

1. who the heck carries around $1400 in cash to a mall?

:wtf:

[sixmile]

2. A Potential Target

nt

[JVS]

8. I think you use a credit card.

That's a lot of quarters to shove in the machine.

[charlie and algernon]

13. the article says it only takes cash now

They haven't installed the credit card option yet. The poster above has it right, anyone sitting there putting in over a dozen hundred dollar bills makes for a mighty big target to any thieves.

[JVS]

14. Damn.

That's a lot of cash. But then again gold is expensive. I wonder if the machine will buy gold when people need to cash out.

[Lucian]

3. So what's going to stop someone from putting a chain around that...

and driving away with it?

This is the dumbest thing I've ever seen.

[Skidmore]

5. My first thought too.

[earth mom]

6. I was thinking the same thing!

What are they thinking? :crazy:

[ZombieHorde]

9. I would guess there is a gps in it. nt

[sixmile]

10. It's deep inside the mall

Not outside by the curb!

[Lucian]

19. A truck can't break through the doors?

Do curbs stop trucks?

[Duer 157099]

4. I like this idea. But the security on those things must be huge.

I can see people trying to grab one.

I wonder if it keeps track of the sales somehow?

[AlabamaLibrul]

7. I wonder how much they charge above spot price

end of transmission

[sixmile]

11. Probably less than Glen Beck's sponsors charge

but anymore than 2-3% above spot is a rip.

[Systematic Chaos]

12. Maybe they should go with Boca Burgers instead.

Being in Boca, near a food court, and all.

:shrug:

[sixmile]

15. Oddly enough

No Boca burgers are sold in the food court, though they have great falafels!

[Poboy]

16. Hmmm. Is this the beginning of the 'mania' phase?

These are already installed in Dubai (of course) as well.

[leveymg]

18. Make that the collapsing U.S. currency precious metals hoarding stage. But, not the beginning . . .

just look at the prices of gold, silver and oil futures.

Gotta love hoarding and speculation. Panic is the next stage.

[Poboy]

20. Don't forget your can goods!

And actually, I'm sort-of serious.

[Starry Messenger]

17. Glad those tax cuts are going into the economy.

:sarcasm: