Atm Gold Machine

unless the machine itself is permanently guarded (and maybe even then), someones gonna steal that thing or at least find a way to break into it regardless of if there is surveillance. At today's prices, there must be significantly more value in there than in a normal cash ATM. How would anyone trace the stolen goods either. This thing is asking for trouble. The temptation for sophisticated criminals is too high.

What if it screws up too. You hear about an ATM mistakenly dispensing a few 20's, oh well....what if this things throws out a couple 1 oz bars...think of the loss.

Capital (pun intended) punishment works!

There is one in Boca Raton, Florida http://www.huffingtonpost.com/2010/..._798345.html

And another in Las Vegas, Nevada http://www.aolnews.com/2011/01/08/v...penses-gold/

...Or they send the prisoner out into the outskirt and build roads and retire in the same place, the guards wont even waste their bullet if the prisoner try to escape.

He will died before sun rise.

Well... at least recidivism is not a problem.

With my luck, I would put a bunch of money into the gold ATM and then nothing would come out. I would rock and kick the machine while cussing it and its maker out, and then the cops would show up, thump my head with a nightstick, and drag me off to jail for damaging private property.

Can't you just see one of these in Japan with people taking hours to feed in about 150,000 yen?

Of course they did. They have to pay for that expensive machine somehow. This is probably the most expensive way to deliver gold that I have seen. Of course, those TV gold sellers could probably give the gold ATM a run for its money in the premium department.

I agree, it is pretty ridiculous. But you know the old saying, "A market high is often signaled by the fact that EVERYONE is buying into it". Could a bullion ATM be that 1st tiny sign of this for gold? Hard to say given the low market penetration of gold. For the most part, those who own gold are few in number but tend to own a lot of it. Isn't the average about 1 oz. per person or something like that? I don't even know anyone personally who owns any gold, unless it is a piece of jewelry or in their dental work. My step dad had a very nice Mexican 50 peso gold piece that he sold a couple of years ago. He's wished more than once that he had kept it.

From what I got from it, the total time from what it has to offer, decision, to real time quote, method of payment,making payment, and recieving your goods takes approximitlly 10 minutes. I have not seen it on again.