Summary: In Boca Raton Florida there is a new type of ATM, a gold ATM. This small machine instead of spitting out cash spits out 24-carat gold bars and coins. The machine originated from Germany and is going to be installed at an upscale mall. Thomas Geissler is the inventor of Gold To Go machines and he says his purpose for these machines are to help the more serious investors who don't want to go into a pawn shop and buy gold, instead they can just receive it from this machine. Also he said they will make good gifts. Instead of having jewelry, flowers or candy this gold will stay around for hundreds of years! The way the machine works is just like a ATM in that all you do is insert a credit or debit card and pick the weight and style of golf they want. The gold then comes out in a sealed wrap box. The machine carries about 320 different sized-bars and coins. The costs all vary and the machine reflects the market so the prices change. One thing that people forget about is the size of the golf that an ounce is only a little larger than a quarter and a gram is only about the size of a fingernail. Because of the price there are security guard and live cameras around the ATM. The ATMs are becoming more and more popular and soon investors are saying there needs to be one in Las Vegas. "Gold always comes back to its real value, it's not diamonds, it's not silver, it's not real estate. It's just gold." Geissler said. A few select people believe it may become currency so the want to install about 40 more machines in hotels and malls around the U.S.
Opinion: I am still a little confused on the whole idea behind such an ATM. I feel that gold will not become a currency of the U.S. I think that it is a good idea for serious investors who do not want to have to go and deal with pawn shops. I don't think that it is a very good idea to give these as gifts because I do not know what they would use it on. Also I feel that these would not be very practical because who wants to carry around a bunch of gold in their pocket. Also there are not very many of them in the world so they would be very hard to get to. I want to know if people will actually use these and how safe and practical they are. I would also like to follow up on this to see if these actually take off or if they will just crash.
http://www.msnbc.msn.com/id/40716205/ns/business-stocks_and_economy/
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