Blighty gets gold-dispensing ATM
The UK's first gold-dispensing ATM machine has been installed at Westfield shopping centre in London.
The Gold to Go hole-in-the-wall was unveiled today at London's biggest shopping centre, where it will dispense various sizes of 24-carat gold coins and bars. The machine also updates the prices every ten minutes, keeping the profit margin in-line with the ever-changing rate of bling blocks.
Prices range from £40 - enough for a 1g gold bar, to just over ten grand, for a 250g bar. Try feeding that into the machine in five pound notes...
Unfortunately, we're unlikely to see any 2-for-1 accidents in these dispensers and I wouldn't like to speculate on the consequence of shoulder barging. There are no guards, but plenty of reinforced steel and a hi-tech alarm system.
The company pulling the strings is Ex Oriente Lux, which has already fitted similar dispensers in Germany, Italy, Spain, the US and the UAE.
The only time I've been excited about gold bars in vending machines, though, was when Cadbury decided to bring back the caramel Wispa a few years ago. But what the heck, I'll have a G please, Bob. ®
so let me get this straight
you're valuing your non-fiat currency alternative in fiat currency?
If you're going to advocate from the diversion of equity to a non-fiat source, then you need to advocate for a source with more intrinic, barterable worth. Gold is just another fiat currency, its just backed by your lizard brain going OOH SHINY. You cant eat it, you cant forge it into anything useful cos its too fucking soft. you cant make clothes out if it.
Gold is the epitomy of the tinkerbell effect.
Please tell me you ARE kidding?
Why would anyone want to exchange £40 worth of worthless paper that Gordon Brown et al spent the last 10 years devaluing, in exchange for a store of value that has persisted for the last 2000 years, and whose fiat value in the last 10 years alone has risen from $252 t/oz to $1500 t/oz.
No you're quite right - I've no idea either
Isn't this more or less custom designed for criminals? Steal a debit card, drain the account before the crime can be reported, dump the card and get away with a few grams of untraceable gold.
It's quite clear why
Smart people who own gold decided they should quickly get rid of it in exchange for cash, so they made these machines to speed the process.
Re: um....what's the point?
Because the value of gold has been steadily rising for years, pretty much from the moment Gordon Broon flogged of the UK reserves at the all-time low.