Friday, January 21, 2011

There's gold in them casinos!

Coming straight from the strip in Las Vegas is the first gold dispensing ATM machine.   And where else would it be but The Golden Nugget Hotel and Casino, Google Map!   Recent guests at the Golden Nugget reported seeing this heavily guarded ATM setup and a few people buying their 24k gold instead of gambling their money away.

(For those who've always wanted to get into
the gold market, the machine makes it easy)


Well, it looks like a regular ATM machine but inside it contains gold bars and coins that the customer can buy.  With the daily flucation of gold prices (at the time of this blog one once cost $1,389) the ATM is computer connected to the most up-to-date gold quotes and the ATM figure out how much to charge you for your gold purchase.  

Then you stick your payment card in there and WHAM, out comes your gold!   The gold bars being sold at The Golden Nugget even come out with their logo stamped in the gold.  (kinda cheesy)   And the prices this ATM charges you tend to be a few bucks higher than market rates but I guess you have to call that a convenience fee.

Visit the ATM company "GOLD to go" on the web:

And this heavily bolted down machine is does not spit out the gold to be used at the casinos, rather it's an investment tool for people in Vegas.  But, will such an ATM be used much?   Would you to to Vegas and buy gold instead of having fun?

BONUS LINKLive Gold Quotes.

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