Posted on 05/13/2010 11:18:55 AM PDT by Willie Green
The world’s first gold bar vending machine has been unveiled at Emirates Palace.
The Gold To Go machine, itself covered in 24-carat gold, dispenses one, five and 10 gram bars as well as one ounce bars of gold, the National reported on Thursday.
Six gold coins of varied weights and engraved with symbols of gold-producing nations Canada, Australia and South Africa, are also dispensed by the machine.
About AED175 will buy a one gram bar, AED760 a five gram bar and AED4,645 an ounce, the paper reports.
“It brings gold to the public,” Thomas Geissler, the chief executive of Ex Oriente Lux AG, told the paper. “It demystifies it.”
He said the German-made vending machine is the first of its kind in the world.
Gold To Go is protected by a range of security measures, including anti-money laundering software. It also tracks the gold price on fluctuating markets with an inbuilt website that transmits the information every 10 seconds, and updates the price accordingly every 10 minutes.
Hey mister, this machine just ate my $10,000! Can I get my money back?
Who said the Arabs are devoid of innovation? They’ve got a neat idea here! (Gotta make one for silver, too)
Does it take slugs?
It’s a mafia invention, to be used w stolen credit cards....
Coming soon to a supermarket near you!..................when the euro/dollar fails.............
Maybe I should get a part time job, servicing vending machines.
Then update my resume and place a job application with these folks....
You thought people get upset when their Snickers bar doesn’t drop....
Ironic Wilson is on the cover of that particular bill.
ping
Set one of those up in Fort Worth and that night it will be bouncing down the street behind a pickup truck with a chain.
I think they thunk of this already....the machine gives you your change in silver!!!!
quite ironic........
Whatever makes you think Arabs invented this? They couldn’t come up with a camel dung recycling machine if they were freezing to death. Or, just read the article.
There’s an old-school slot machine in the Cal-Neva casino in Reno that, I think, pays off in silver dollars. I’ve put a buck or two into it now and then but never got anything back.
Goldbug ping
FWIW, this story made the CBS radio news today as well.
There was talk in Germany last year about putting these in train stations (which brings us back full circle to our thread host WG), see here
Mail me to get on or off the Free Republic Goldbug Ping List.
LOL. I heard about it from media, and wondered where in the world they do this. Now I know.:-)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.