Monday, May 17, 2010

Gold ATM is a Sign of the Times

From the "It had to happen sooner or later" file...

After test runs in its native Germany, Ex Oriente Lux has installed its first gold vending machine in an Abu Dhabi luxury hotel. Users can select from 10 different "Gold to Go" products offered at a price that is tied to international markets and updated six times an hour, including small bars and custom coins. (Photo credit: REUTERS/Mosab Omar)

Even in uncertain times, or perhaps particularly in them, count on an entrepreneur to try to meet people's latent needs.

The company plans to install ATMs at 200 locations in Germany, Austria, and Switzerland, focusing locations in "airports, hotels, shopping centers, casinos, cruise liners as well as banks and jeweler shops – locations with large attendance, an attractive environment and high security standards." I guess that means I won't see one at the corner convenience store any time soon.

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