Has Anyone Seen The Gold ATM's?

[Annella]

They are installing Gold ATM's in some of the bigger cities.  You can buy gold in different increments from these ATM's.  It's a bit higher than what Gold is selling at (Bullion exchange rates).  There is a buy back program in place.  You can buy Gold US coins in different weights, all the way up to a full ounce.  The ATM takes hundred dollar bills.  It's a Dutch bank that's introducing them.

They are installing one at Ghirhadelli Square in San Francisco.  My friends and I will be going there soon, and I'm going to check it out.

[jcribb16]

   I haven't heard of it.  Let us know more when you find out!

[mc1962]

I thought that they were only in the NYC area but if they get to the west coast I would like to see them and maybe make a purchase, they look fun!

[Annella]

I'm actually going to buy a couple coins (small of course), just to see how it works.  Gold can only go up.  Kind of cuts out the commission of the "rare coin" shop owner and passes it to the bank.  However, the ATM's will only dispense Gold for now.  

The ATM prints you out a receipt with date, daily exchange rate on that day, etc.  That receipt assures you a buy back option when you want to cash it back in whenever.  Unless there's some extra security options, there would be just as much danger of being ripped off like any other ATM.  These will be housed inside Malls and such.  A few banks will have them inside their doors.  Not like the common ATM's.

So far, the public response has been negative, but they think it's because a Dutch bank has full ownership. However, the ATM's will deploy US Bullion.  It's .9999% purity.  Can't get any better than that unless you have no alloy whatsoever to hold it together...lol  They've been in some European cities now for awhile.

[Annella]

I thought that they were only in the NYC area but if they get to the west coast I would like to see them and maybe make a purchase, they look fun!

They do look fun!  San Francisco is already installed, or being installed this week.  I hope my information isn't tainted. I'll see for myself pretty soon.