Gold ATMs Offer Precious Metal As A Currency

Gold ATM Offers Precious Metal As A Currency

Asia’s first gold-dispensing ATMs are now up and working in Singapore, stated a recent news headline.  In fact, Singapore has joined other countries around the world that feature these unique automated teller machines (ATMs) that literally dispense gold for investors, collectors and anyone wanting to use this precious metal that is the “gold standard” currency worldwide.  According to the Swiss refiner PAMP, one company that manufacturers these custom-built gold dispensing ATMs, the gold products on offer include one to ten gram sizes that are linked to current daily global gold value listing.

Physical Gold as a Currency

Imagine a gold ATM that dispenses “physical gold?”  This reality may be somewhat difficult to get one’s head around, stated a London banker commenting about this trend of dispensing physical gold as currency.  Still, the banker said the significance of gold ATMs is significant because it means that worldwide views about gold being just as available as paper money has arrived.  In other words, customers can purchase a one gram pendant at a gold ATM for about $100; while a ten gram gold bar would cost about $650 at today’s gold exchange rate.

Moreover, the view from gold buying fans is a gold dispensing ATM is simply “awesome” because it means no worries when purchasing gold from scammers and others who sell the precious metal in various retail shops and online.  Gold fans also think this is an “interesting approach” of taking gold from select sources to literally making the purchase of gold bars both more public and more convenient.

Gold Sales Made Easy

In general, the marketing pitch for this current debut of currency grade 999.9 pure 24k gold as money, has now reached some 121 countries worldwide.  While the first gold ATMs are being placed in casinos overseas, the manufacture stated online that it expects to see more gold ATMs in mainstream places, such as banks, department stores and credit unions.  For example, a rare coin shop in New York City features “gold to go” via its handy store front gold ATM.

Gold to go Offer Worldwide

According to the gold ATM featured at various shops and galleries, this new method for buying gold allows customers to purchase these precious metal bars in various sizes and prices. Gold ATM owners also state that prices are “updated every 60 seconds” based on the fluctuating gold market today.  The goal is to make gold easy to purchase.

Meanwhile, there are guidelines for purchasing gold from worldwide ATMs that include:

– Gold ATMs feature the gold for offer right on the ATM; while featuring 1 oz, 10 gm and 5 gm gold bars that are all said to be “fine gold 999.9.”

– Gold ATMs dispense the gold bars in a small case or even an attractive gift box so customers do not have to worry about touching or carrying the gold with them without a protective packaging.

– Gold ATMs are considered to be 100% safe and secure.  A typical gold transaction from this type of money vending machine features video cameras and lots of back-up protection so buyers have a receipt and other documentation about their purchase.

– Gold ATMs are already dispensing gold at various locations in the U.S.  Contact your local bank to ask when gold ATMs in your area will be up and running.

In general, the ATM that gives customer’s gold instead of cash is a great convenience during these uncertain economic times when many investors view gold bars as a tried and true method for saving.

Gold ATM Coming to Your Community

The public’s reactions to gold colored ATMs dispensing gold bars instead of cash is “mostly positive and very exciting,” stated an investor commenting online.  In turn, he noted how the new gold ATMs certainly gets used, while drawing lots and lots of attention in a good and positive way “because people desire easy access to buying gold.”  The investor also noted how “gold to go” prices will vary depending on the precious metal’s daily market value.  Still, he said most investors will ballpark an ounce of gold as being worth about $1,300.

Gold Buying Goes Public

At the same time, the history of gold ATMs is very interesting, say buyers who are attracted to these gold dispensing machines.  For instance, one of the first gold ATMs debuted in New York City back in 2012.  However, the New York Times reported that several precious metal retail companies launched “Gold to go” ATMs in 2009, but it took a while for this concept to catch on.

Flash forward to 2014, and gold-giving ATMs are catching the eye of people from all walks of life, both in America and overseas, where these highly secure and convenient machines are dispensing millions of dollars in gold bars daily.

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