Gold-dispensing ATMs coming to America

Gold To Go golden dispersing ATMHave you ever been awakened in the middle of the night by a strong craving for... gold? Given the dicey state of the U.S. dollar and European Euro, this craving has become commonplace, and now a German firm is about to satisfy that craving any time you want, day or night, with a gold-dispersing automatic teller machine.

Gold to Go machines are already in use in the Emirates Palace Hotel in Abu Dhabi, several spots in Germany, at the Westin Place in Madrid and the Orio al Serio International Airport near Milan, Italy. They are ready to dispense 24-karat gold in quantities from one gram (around $42.40) up to one-Troy-ounce Krugerrands and Kangaroos (around $1,315 today). Prices are updated every 10 seconds.

The company won't disclose exactly where in the U.S. the new machines will be installed, except to tell CNNMoney that they will be in an upscale casino in Las Vegas and somewhere in Florida.

The machines come with sophisticated security precautions and are programmed to combat money laundering, although just how this works is not clear. The machine accepts currency, as well as credit cards. WalletPop has not received a response to our query about the transaction fees charged for using these machines.

Gold to Go is a product of a subsidiary of the European Geissler C-B-T Holding company, which focuses on agricultural land, especially olive orchards, rural development and renewable energies in South and Eastern Europe.

Read Full Story