I have a hard enough time getting money out of an ATMlet alone bars of gold. If you're in Dubai however, you won't have that problem.The land of sand, oil and gold has made taking the last one home with you as simple as going to the mall.
I came across my first Gold-dispensing ATM machine at the Dubai mall and for just 6,370 AED ($1,734 USD) I could have my very own 1 ounce gold coin with a Kangaroo stamped on it. Not sure where they got the Kangaroo idea from, but still very cool. And if you're not willing to fork over $1700 USD, not to worry, there is gold for everyone! You can buy a 2.5, 5 or 10 gram gold bar for $193, $343 and $638 respectively. Although you won't get a Kangaroo on it.
(Below: Choose how much gold you want and the design. The ATM will show you the current price of gold, so you won't get any deals at this machine! See my post on the Gold Souk for where to shop for gold when in Dubai)
NEXT POST#7 of 999 - The Gold Souk (Dubai, United Arab Emirates) If you're going to knock The Gold Souk off your list of places to see, I suggest bringing plenty of cash. Otherwise you'll just be window shopping! Listed on the 1000 Places to See Before You Die, the Gold Souk will most likely appeal to travelers looking for an outstanding... PREVIOUS POST#8 of 999 - Taal Volcano (Tagaytay, Philippines) I stood looking out at what is supposed to be one of the most stunning of the 1000 Places to See Before You Die and what did I see . . . nothing! Thats because I managed to arrive at Taal Volcano on a day that happened to be one...
If you wish to buy pure and fashionable gold with 24 carat, Gold ATM counters will help to purchase and it makes your shopping a different experience. Using this Gold ATM you can just put the money/credit card and can easily buy the gold you wish to buy.
The ATM is fully monitored by highly secured cameras and it is fixed inside and outside of each and every machine. The customers can contact with operator, if there is any trouble with the machine. There are 50 such machines around the world.
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Maybe I need to get out more, or maybe Im just running with the wrong crowd, but when I spotted this Gold ATM smack dab in the middle of a gift shop in the Dubai Mall, I felt asmidgenout of my league.
Who are the people that use these? Gold-plated (naturally), the automated banking vending machine here dispenses Burj Khalifa-emblazoned gold bars, coins, and medallions instead of something slightly more practicallike, say, gold teeth. Credit card and cash are dutifully accepted.
There are currently 20 of the machines in operation around the world 3 of which are in Dubai: the one here at the Burj Khalifa gift shop in the Dubai Mall, one on the 124th floor observation deck of the Burj Khalifa (the worlds tallest building), and another in the Atlantis Hotel on The Palms man-made islands.
Convenient in case theres a line-up at the gift shop machine I suppose. And no Ididntwithdraw any gold all my moneys tied up in silver. (That loose change in the couch has gotta be worth something right?)
Then again, I admit, I bought a handful of those Krugerrands (albeit .1 oz. coins) whilst in South Africa about 10 years ago. But only because my surname happens to be Kruger, so natch, I bought them as souvenirs for my family.
How handy. After all, you never know when youre going to be caught without a gold bar in your pocket (Mae West: Is that a gold bar in your pocket or are you just glad to see me?)Alas, none in Tucson, but I see the Golden Nugget (natch!) in Las Vegas has one!
Yes, we have 3 in our mall- kidding! Why unless you were say way out in the middle of nowhere and they only bartered would you need gold? The only other thing would be something illegal perhaps? Thats just odd!
Beauty may be skin deep but if you believe Dubais Hollywood trained makeup artist Huda Kattan, the secret of it all is now inside a big, black vending machine waiting to be opened by the simple click of a button. From essentials for an on-the-go makeover to last-minute gift ideas and cosmetic bag-fillers, the beauty in a box concept packs it all. Just for an idea, eyelashes start from Dh69 while nails are priced at Dh85.
If you thought quality perfumes were a domain of high street retailers then think again. Sharjah company Sahar Al Sharq Perfumes or SSP as they call themselves on their vending machines sell perfumes for as low as Dh50. Buying a perfume here is easy but its choosing one from the scores on display that can make you break into a sweat.
Laptops, tablets, mobiles and even cameras. Any gadget thats cool, handy and portable can be yours now through an automated vending machine installed last year by Sharaf DG at their Times Square store. The vending machine even has a robotic arm that moves the items around.
Until recently Crowne Plaza Dubai on Shaikh Zayed Road had a vending machine that let its customers rent out tablets for Dh40 for a day and iPads for Dh149. That service has, however, been discontinued. Where: Sharaf DG Times Square Mall
This one invariably makes it to almost every global list of unique vending machines for its novelty factor, even six years after it was first installed at the lobby of the Emirates Palace Hotel in Abu Dhabi. From 10-gram 24k gold bars to Burj Khalifa branded gold coins, theres a range of products you could buy, all worth their weight in gold and packed in a gift box. Be rest assured, you pay according to market rates updated real-time every 10 minutes over an internet connection.
Most vending machines give out candies and chocolate bars, but not food that help you watch your weight. The vending machines run by Abu Dhabi company Yalla Eat Healthy, however, only dispense health food from a power pak pudding to a teriyaki steak bar. Whats more, bottles of naturally pressed fruit juices replace cans of colas while crisps in packs are baked, not fried.
The RVM or Reverse Vending Machine may not be as popular yet but with bodies likes Beeah installing more of these last year to collect and recycle domestic light bulbs and batteries across the UAE, it could soon by the by-word of the future. RVMs can be found at several locations across the UAE including petrol stations. The machines scan and identify bottles and aluminium cans, then compact them for recycling and reward the feeders with gift vouchers that can be redeemed at participating retailers.
Got a visitor in town and need a mobile SIM card in a rush? Dont worry, theres a vending machine for that as well. Telecom service providers etisalat last year launched at their Al Kifaf office what is the UAEs first interactive touchscreen-based Smart Service SIM card vending machines that can verify an Emirates ID and provide activated pre-paid SIM cards in minutes.
1. The first modern coin-operated vending machines were introduced in London, England in the early 1880s, dispensing postcards. The machine was invented by Percival Everitt in 1883 and soon became a widespread feature at railway stations and post offices, dispensing envelopes, postcards and notepaper.
5. The first vending machine in the US was built in 1888 by the Thomas Adams Gum Company, selling gum on New York City train platforms. The idea of adding games to these machines as a further incentive to buy came in 1897.
Last month we introduced you to Gold to Go, the gold-dispensing ATMs made by German company Ex Oriente Lux AG. The company installed its first machine at the Abu Dhabis Emirates Palace hotel in Dubai, and has since installed several in Germany, Spain and Italy.
Dave Jones, a consultant with PMX Gold in Boca Raton, brokered the deal to bring the machine to Florida. He told TPM in a phone interview that he saw a photo of the machine in Dubai and said, this has to come to the U.S.
Instead of buying flowers or chocolates, which is gone after two or three minutes, this will stay for the next few hundred years, he said. Coincidentally, the Gold to Go machine in Boca Raton sits right outside a gourmet chocolate shop.
Prices are adjusted every 10 minutes, depending on the market value, and you can buy up to an ounce which is actually only a little larger than a quarter. But rest assured, if youre unsatisfied with your gold purchase for any reason, you can return it for a full, market-adjusted refund within 10 business days.
A Florida-based incubator company has deployed the first vending machine in the United States that sells gold coins and gold bars to consumers.The so-called Gold to go ATM dispenses .999 pure Credit Suisse gold bullion bars and U.S. minted American Eagle Gold Coins. Consumers deposit cash in the machine to complete a purchase.PMX Gold, the machine's owner, recently deployed the vending machine in the Town Center Mall in Boca Raton, Fla., a wealthy community in Palm Beach County."They installed the machine on Friday and there is a very nice crowd around it because everybody likes gold. The company also has employees showing customers how to operate the machine," said a Town Center Mall management office spokesperson, who declined to give his name.
PMX Gold deployed the machine as part of a three-month pilot to gauge whether there is a market in the United States for the vending machine. Similar machines have been deployed in 12 locations in Germany, Spain, Italy and Dubai.The machine in Boca Raton is permanently online and adjusts prices every 90 seconds to reflect the current market price of gold, company officials said in statement. The Gold to go ATM sells gold for $150 to $1,400, said the Town Center Mall spokesperson. Repeated calls to the PMX Gold spokesperson were not returned. According to the company's website, PMX Communities, Inc., parent company of PMX Gold, is based in the business incubator park of Florida Atlantic University, which is also located in Boca Raton.
"Gold bullion products are becoming more and more sought after as a hedge against uncertainty, and gold continues to hit all-time record highs," say PMX Gold officials in a statement. Marcus Grubb, managing director of investment for the World Gold Council, agrees.
"There was very strong demand for gold in third quarter, and it appears that the gold industry is headed for a record year," Grubb said. Demand for gold jewelry in China and India, coupled with a revival in the use of gold by industry, are key factors driving up gold tonnage and gold prices. The most important dynamic driving up gold prices is the difficult economies in some countries."There is more investment in gold because of concerns about the depreciation of the dollar in the United States and the euro in Ireland, Greece and Spain," Grubb said. According to World Gold Council charts, gold was selling for $1,200 an ounce at the end of the third quarter, up 20 percent compared with $1,000 per ounce in 2009's third quarter.The World Gold Council, which has its headquarters in London and operates offices worldwide, is a market-development organization for the gold industry. Although Grubb is aware that the gold-dispensing machine has been installed in a hotel in Dubai, he declined to comment on the vending machine as a vehicle to sell gold to a wider consumer audience. Officials of PMX Gold believe the machine will bring gold to the masses.
"The marketing of physical gold bullion in the United States has traditionally lacked fair pricing, quality control and acceptance by the general public due to non-standardized distribution methods," company officials say.The growing demand for gold, however, means that PMX Gold might have deployed its machine at the right time in the United States so willing consumers can benefit from the increase in gold prices. But industry observers don't consider the machine an ATM, even though company officials named it the Gold to go ATM.
"I would consider gold dispensers more of a novel application for a kiosk than an ATM," said Gil Luria, senior vice president of Equity Research at Wedbush Securities, which is based in Los Angeles. Even PMX Gold refers to the so-called ATM as a "Gold Bullion Vending Machine." The mall spokesperson also called the equipment a vending machine. The vending machine first appeared several years ago in Germany. PMX Communities has signed an agreement with Ex Oriente Lux AG, a German-based company that owns the technology."We have entered into an agreement with Ex Oriente Lux AG, the owner of the technology, to conduct test marketing on an exclusive basis in the State of Florida during an initial three-month period, and, on a non-exclusive basis, to assist such company (Ex Oriente Lux AG) in seeking additional test markets and licensing and franchising opportunities within the United States," said Michael Hiler, president and CEO of PMX Communities, in a press release.