Gold to Go is a product brand made by the TG Gold-Super-Markt corporation designed to dispense items made of pure gold from automated banking vending machines. [1] The first gold-plated vending machine was located in the lobby of the Emirates Palace hotel in Abu Dhabi, dispensed 320 items made of gold, including 10-gram gold bars and customized gold coins. [2] There are currently six vending machines installed across Europe and Peru.[ citation needed ] The first vending machine in the United States was installed in Boca Raton, Florida in December 2010. [3] The "gold ATMs" are designed to be placed in shopping malls and airports and are meant to make ordinary people comfortable with the idea of investing in gold. The vending machines update their prices to market value every minute over an encrypted internet connection. [2]
The concept was developed by Thomas Geissler, who has previously created an online platform for trading precious metals. He stated that his initial inspiration was observing the "seemingly endless" line of traditional toiletries vending machines at airports and train stations, and during his search for advertising models for an online marketplace. [4] The initial prototype system was installed in Frankfurt in 2009, where it dispensed 1-gram pieces of gold at a 30% premium above market price. [5]
The German corporation planned to distribute 500 "gold ATMs" throughout airports and rail stations in Germany, Austria, and Switzerland. Meanwhile, the company FONDS-Zentrum Nürnberg in Nuremberg Germany bought the assets of the Gold ATMs to distribute the Gold vending machines to private companies or persons.
In 2017, the first gold ATM that had been installed in Dubai, was permanently closed. [6]
The vending machines are covered in gold leaf, and include a touch screen, cash and credit card slots, and a lighted display showcase. Users must scan identification for purchases exceeding the money laundering limit within a given time. [7] The machines are fitted "like an armored vehicle" and tested with explosives to prevent theft, and include surveillance cameras that record all transactions. [4]
Gold bars made of 24-carat gold are sold in 1, 5, 10, 20, 50, 100 and 250 gram and 1 oz sizes. [4] Other items for sale include gift boxes of gold coins with symbols such as the Krugerrand, a maple leaf, or a kangaroo, [7] and are dispensed in "handsome" boxes. [4] Each gold bar is sealed in plastic with an anti-counterfeit hologram label, and comes with a description of its purity and price per gram, as well as information about the sale and the company's 10-day return policy. [9]
An automated teller machine (ATM) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance inquiries or account information inquiries, at any time and without the need for direct interaction with bank staff.
Precious metals are rare, naturally occurring metallic chemical elements of high economic value. Precious metals, particularly the noble metals, are more corrosion resistant and less chemically reactive than most elements. They are usually ductile and have a high lustre. Historically, precious metals were important as currency but are now regarded mainly as investment and industrial raw materials. Gold, silver, platinum, and palladium each have an ISO 4217 currency code.
A vending machine is an automated machine that dispenses items such as snacks, beverages, cigarettes, and lottery tickets to consumers after cash, a credit card, or other forms of payment are inserted into the machine or otherwise made. The first modern vending machines were developed in England in the early 1880s and dispensed postcards. Vending machines exist in many countries and, in more recent times, specialized vending machines that provide less common products compared to traditional vending machine items have been created.
The Royal Canadian Mint is the mint of Canada and a Crown corporation, operating under the Royal Canadian Mint Act. The shares of the Mint are held in trust for the Crown in right of Canada.
Bullion is non-ferrous metal that has been refined to a high standard of elemental purity. The term is ordinarily applied to bulk metal used in the production of coins and especially to precious metals such as gold and silver. It comes from the Anglo-Norman term for a melting-house where metal was refined, and earlier from French bouillon, "boiling". Although precious metal bullion is no longer used to make coins for general circulation, it continues to be held as an investment with a reputation for stability in periods of economic uncertainty. To assess the purity of gold bullion, the centuries-old technique of fire assay is still employed, together with modern spectroscopic instrumentation, to accurately determine its quality.
A ticket machine, also known as a ticket vending machine (TVM), is a vending machine that produces paper or electronic tickets, or recharges a stored-value card or smart card or the user's mobile wallet, typically on a smartphone. For instance, ticket machines dispense train tickets at railway stations, transit tickets at metro stations and tram tickets at some tram stops and in some trams. Token machines may dispense the ticket in the form of a token which has the same function as a paper or electronic ticket. The typical transaction consists of a user using the display interface to select the type and quantity of tickets and then choosing a payment method of either cash, credit/debit card or smartcard. The ticket(s) are then printed on paper and dispensed to the user, or loaded onto the user's smartcard or smartphone.
John Adrian Shepherd-BarronOBE was an India-born British inventor, who led the team that installed the first cash machine, sometimes referred to as the automated teller machine or ATM.
Fares to use the Toronto Transit Commission (TTC) transit system in Toronto, Ontario, Canada, can be paid with various media. The price of fares varies according to age, occupation, income level, and health condition of riders.
A currency detector or currency validator is a device that determines whether notes or coins are genuine or counterfeit. These devices are used in a wide range of automated machines, such as retail kiosks, supermarket self checkout machines, arcade gaming machines, payphones, launderette washing machines, car park ticket machines, automatic fare collection machines, public transport ticket machines, and vending machines.
Bulk vending is the sale of unsorted confections, nuts, gumballs, toys and novelties selected at random and dispensed generally through non-electrically operated vending machines. Bulk vending is a separate segment of the vending industry from full-line vending — i.e., the snack and soda vending industries — and involves different products and strategies. Bulk vending represents less than 1% of the total vending industry.
Coinstar, LLC is an American company operating coin-cashing machines.
Of all the precious metals, gold is the most popular as an investment. Investors generally buy gold as a way of diversifying risk, especially through the use of futures contracts and derivatives. The gold market is subject to speculation and volatility as are other markets. Compared to other precious metals used for investment, gold has been the most effective safe haven across a number of countries.
A gold bar, also known as gold bullion or a gold ingot, refers to a quantity of refined metallic gold that can be shaped in various forms, produced under standardized conditions of manufacture, labeling, and record-keeping. Larger varieties of gold bars, produced by casting molten metal into molds, are called ingots. Smaller bars are often created through minting or stamping from rolled gold sheets. Central banks typically hold the standard 400-troy-ounce Good Delivery gold bar in their gold reserves and it is widely traded among bullion dealers. Additionally, the kilobar, weighing 1,000 grams, and the 100-troy-ounce gold bar are popular for trading and investment due to their more manageable size and weight. These bars carry a minimal premium over the spot price of gold, facilitating small transfers between banks and traders. While most kilobars have a flat appearance, a preference for brick-shaped bars exists among some investors, particularly in Europe.
Silver may be used as an investment like other precious metals. It has been regarded as a form of money and store of value for more than 4,000 years, although it lost its role as legal tender in developed countries when the use of the silver standard came to an end in 1935. Some countries mint bullion and collector coins, however, such as the American Silver Eagle with nominal face values. In 2009, the main demand for silver was for industrial applications (40%), jewellery, bullion coins, and exchange-traded products. In 2011, the global silver reserves amounted to 530,000 tonnes.
The Canadian Silver Maple Leaf is a silver bullion coin that is issued annually by the Government of Canada since 1988. It is produced by the Royal Canadian Mint.
A stamp vending machine (SVM) is a mechanical, electrical or electro-mechanical device which can be used to automatically vend postage stamps to users in exchange for a pre-determined amount of money, normally in coin. Most SVMs were positioned in public places to provide a useful service to customers when other sources of postage stamps, such as Post Offices were closed. The term is often applied to the entire object as found attached to a pillar box or sited in a wall. The name Stamp Vending Machine only applies to the internal mechanism, the housing is described by the UK Post Office as a "case" and was supplied, installed and maintained separately. Many postal administrations around the world have used automatic stamp vending machines including the United States, where private manufacturers began vending stamps from coils in 1908. Most countries of the Commonwealth of Nations have issued stamps for use in Stamp Vending Machines, including Hong Kong, New Zealand and Malta.
One of the most highly profitable aspects of the Royal Canadian Mint's enterprise is in its Numismatic product line. The euphoria surrounding the year 2000 led to the birth of the Millennium 25-cent coin program. The numismatic line included proof quality coins sold individually or as a complete set. This level of excess would come to signify the coming decade. The number of numismatic releases would increase on an annual basis starting in 2003. Numismatic three cents, five cents, and ten cents would be introduced, along with numismatic three dollars and eight dollars. Luxury coins would not be immune to the dramatic increases that ensued. Coins with face values of 250, 300 and 350 dollars would be introduced by 2006.
A Bitcoin ATM is a kiosk that allows a person to purchase Bitcoin and other cryptocurrencies by using cash or debit card. Some Bitcoin ATMs offer bidirectional functionality, enabling both the purchase of Bitcoin and the sale of Bitcoin for cash. In some cases, Bitcoin ATM providers require users to have an existing account to transact on the machine.
Goldsikka ATM is an automated teller machine in Hyderabad which is India's first and the world's first real time gold ATM.
A capsule toy is a type of small vending machine in Japan, in which a user inserts a coin and turns the rotating lever to receive a released toy in a capsule. The term also refers to the actual toy that is released. As of 2023, with its diversification, active manufacturing of products and machinery as well as installation of wholesale machines, capsule toys are attracting attention as a new industry. Various names exist depending on the time period, region, and selling manufacturer, such as Gacha-Gacha, Gashakoko, Gachapon, Gashapon, Gacha, and P-cup, because these names are registered as trademarks by various companies. This article will use the term capsule toy.