Gold-dispensing ATMs not in high demand

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Sun, 03 Jul 2011 6:22p.m.

A gold bar vending machine has been installed in a shopping centre in London

A gold bar vending machine has been installed in a shopping centre in London

ATM machines have always been a reliable cash point, but now people in Britain can use a "hole in the wall" to get their hands on solid gold.

A gold bar vending machine has been installed in a shopping centre in London.

So far though, people haven't been queuing up to invest in the precious metal.

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Comments

05 Jul 2011 10:04p.m.

SUSAN wrote:

well papper money sure is worthless because they dont have the gold to back the papper money up . . did you know america is bankrupt they are just printing papper like robert mugabe thats why the us dollar is loosing value .

04 Jul 2011 02:55p.m.

Chargone wrote:

i suspect they'd do better if it dispensed silver. you can buy and sell it in much smaller units, cash value wise. significantly, the only thing you can do with gold or silver is either take it to a jeweller or straight back to a bank. most people don't really think through the implications: silver and gold are massively less affected by inflation than cash, and are generally taxed less. (not to mention the functional supply is slowly being reduced as they get used in electronics and other such things) i figure if they put it somewhere where people both had the spare cash and were likely to be informed, and used silver instead of gold, it'd be more likely to work out.