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Friday, July 01, 2011

The vending machine that sells GOLD.

If you think chocolate bars are a little overpriced these days, then this isn't the vending machine for you.
For the only bars you can get here are made of pure gold and will set you back somewhat more than 70p.
Britain's first gold vending machine 'Gold to Go' will open today in the Westfield shopping centre in west London.

Glittering prize: The 'Gold to Go' vending machine launched at the Emirates Palace Hotel in Abu Dhabi. The one in Westfield will look much the same
It follows the launch of the first ever cash-for-gold machine which was switched on last year beneath the gold-coated ceilings of Abu Dhabi's Emirates Palace hotel.
The machines were first tested in Germany in 2009, but German manufactures Ex Oriente Lux chose Abu Dhabi for the official launch of the invention because of the region's high demand for gold.

Going for gold: A 10-gram gold ingot which a man purchased from the "Gold to Go" vending machine in Abu Dhabi last year
They came up with the idea to capitalise on gold's reputation as a safe investment, according to the Daily Telegraph.
And they created an easy way to purchase something that is seen as a solid investment.
A computer inside the machine updates the prices every 10 minutes to reflect fluctuations in the world market.
Shoppers can pick up a 1g coin for roughly £40 or a 250g bar for £10,250.


The price of gold has soared in the past 25 years
In 2001, the price of gold was £6 a gram to £33 a gram today and is expected to keep rising steadily.
The owners expect lots of people to use the gold as presents of people and can pick up a 2.5g bar with London's skyline engraved on it, the newspaper reported.
There are no security guards protecting the machine, but would-be thieves would still have to contend with reinforced steel and a state-of-the-art alarm system
'It would cost you a great deal more to get the gold out than the value of the gold inside,' Joe Dreixler, of Oriente Lux, said.
Anyone who spends more the £2,500 will have to scan their passport to satisfy anti-money laundering rules.

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