Of course Abu Dhabi has a gold-dispensing ATM

Dispensing gold bars and coins, the brainchild of a German entrepreneur is the first international machine to be unveiled in the nascent "Gold to Go" brand.

  • close
    Thomas Geissler, the CEO of Ex Oriente Lux, left, and an Emirati official remove the cover of an ATM-style kiosk which monitors the daily gold price and offers small bars up to 10 grams or coins at the Emirates Palace hotel in Abu Dhabi, on Wednesday, May 12. It's the idea of a German entrepreneur, Thomas Geissler, who began testing the cash-for-gold machines in his native country in 2009.
    View Caption
  • About video ads
    View Caption
of

Right on time, a luxury hotel in Abu Dhabi unveils an ATM that dispenses bars of gold for cash you feed into it. The machine monitors the price of gold on a minute-by-minute basis...just like that know-it-all uncle of yours does - the one with the coins and the collection of conspiracy theories about fiat currencies.

Who built this bad boy?

From USA Today:

It's the idea of a German entrepreneur, Thomas Geissler, who began testing the cash-for-gold machines in his native country in 2009. The Abu Dhabi debut on Wednesday is billed as the first international foray for Geissler's "Gold to Go" brand.

Cool. Now make it dispense silver and platinum and you could start putting these machines in every Fidelity and Schwab branch in the country.

Well done.

Add/view comments on this post.

------------------------------

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK