ATMs That Dispense Gold Bars Coming To America

tetrahedrassface writes "As the US economic woes continue unabated, a German company is bringing gold-bearing ATMs to Mainstreet America. The machines accept credit cards, and will dispense 1 gram, 5 gram, 10 gram and 1 ounce units, as well as various gold coins. The company hopes to install 35 bullion machines in the United States this year, and will hopefully have several hundred up and running by next year. The machines will be decorated like giant gold ingots and be over two meters tall. Physical gold has both pros and cons, but from a safety standpoint would it be fine to have a couple of ounces in your pocket while walking around the mall? The giant, gold-dispensing ATMs will monitor the market conditions for gold every 10 minutes in order to reflect spot price changes as they occur." We already covered similar machines installed in travel hubs across Germany.

Comments

Already here

[operagost]

Meanwhile, Slashdot is bringing apostrophe abuse to America.

Re:Already here

[InfiniteWisdom]

Here, let me plug this cable into your VGA adapte

VGA stands for Video Graphics Array . VGA adapter is not redundant.

If we buy one with the magic chocolate ticket

[GungaDan]

will we win a trip to Glenn Beck's magical crazy factory?

Re:I see a hack waiting to happen...

[rlp]

then sell it for $300 an ounce

Uhhh, you haven't checked the price of gold in a while, have you?

Market penetration

[Zouden]

The company hopes to install 35 bullion machines in the United States this year

To put that in perspective, that's over a hundred machines per person, or 3.3 machines per square foot of land. Talk about agressive expansion!

Re:Cue the crying

[timeOday]

I could be wrong, but most conservative stations I've tuned in are selling gold as if the end of humanity was just over the horizon.

Humanity won't end, but this gold bubble will, and these ATMs are the surest possible sign.

Remember those round-the-clock commercials for mortgages, and the reality shows about flipping houses, the last year or two before the mortgage bust that wrecked the economy? This is that, but for gold. When half the teenagers in shopping malls adopt your investment strategy, it is time to sell.

Now, I have to give the gold standard guys some credit, they said it would go up, and it did, bigtime. But you only profit from getting in on time if you also get out on time, and IMHO that could be any day now.

Re:Cue the crying

[DavidTC]

Um, no, Goldline is a scam, whether or not investing in gold is a good idea.

Why? Because Goldline is selling gold at a 150% markup, and hence no one will ever get their investment back.

You call, they give a little spiel about how the price of gold has gone up and is thus a good investment, or has gone down and hence is a good time to buy, and they they sell you gold at absurd markup and fail to mention that it has any markup at all.

They're pretending to be a commodities broker, and talk a lot about 'reselling' and whatnot. They're actually conmen, and under investigation by the Senate.

And Glenn Beck and Fox News knows this damn well, but are paid a lot.

This is totally irrelevant to whether or not gold is a good investment. It might be if you actually purchase gold at market price, but it sure as hell isn't if you purchase from Goldline.