The following article is published courtesy of Israeli Diamond Industry Blog
Author: Roe Kalb
The Abu Dhabi five-star Emirates Palace Hotel has decided to place an innovative vending machine in its lobby. But this vending machine isn’t you’re average soft drink or snack dispenser – this machine gives out gold. Real, 24-karat gold bars.
The Emirates Palace Hotel bullion ATM is the first gold vending machine in the world.
The gold vending machine’s prices are updated every hour via a link to the manufacturer, which tracks gold prices. The company says the prices are competitive because there are no staffing costs for the machine.
Users can navigate menu choices on the (naturally) gold covered ATM via a 19-inch touch screen, and can pay for their gold with cash or credit card.
Gold To Go’s security features include a camera and an ID scanner, meant to prevent money laundering. According to Ex Oriente Lux, the manufacturer, the machine is “largely burglar-proof and tamper-resistant.”
This tempting Gold To Go machine sells 24-carat gold bars weighing 1, 5, and 10 grams, as well as gold coins from Canada, Australia, and South Africa. Each in its own gift box.