If you read the title and you thought that it’s an ATM made out of gold, you would be wrong. It’s actually an ATM that dispenses gold! The ATM was recently installed at Westfield shopping centre in London and it will be the first gold-dispensing ATM in UK, although we’re not sure how often people actually need to make gold withdrawals.
The machine is called “Gold to Go” and apparently will dispense various sizes of 24-carat gold coins and bars. The machine will also update the price of gold every ten minutes, which will help to keep the profit margin in-line with the ever-changing rate of gold. The prices range from 40 GBP for a 1 gram gold bar to over 10,000 GBP for a 250 gram gold bar. Weirdly enough there are supposedly no guards accompanying this machine, but just reinforced steel and a hi-tech alarm system. We’re actually not so worried about the security of the machine, but for ourselves. Imagine being robbed right after you’ve “withdrawn” a 250 gram gold bar. Ouch.
The company pulling the strings is Ex Oriente Lux, and apparently this is not new as other countries such as Germany, Italy, Spain, the US and the UAE have similar machines fitted into their shopping malls.