Gold (Dispensing) ATM lands in Boca Raton

http://money.cnn.com/2010/12/17/news/companies/gold_atm_boca/ ^

[Red in Blue PA]

NEW YORK (CNNMoney.com) -- Ever felt the need to exchange greenbacks for gold bullion while finishing your holiday shopping?

Well, now you can. Just head on down to Town Center Mall in Boca Raton, Florida, where America's first gold dispensing ATM opened for business on Friday.

All you have to do is enter near the Neiman Marcus, hang a right toward the food court, and you will see the gold plated-vending machine near the candy store. Seriously.

The ATMs, designed by a German company called Ex Oriente Lux AG, are already operating in over 15 locations worldwide including Germany, Spain, Italy and Abu Dhabi.

The ATMs, which dispense gold coins and bars weighing up to eight ounces at prices updated every 10 minutes based on the real-time spot price of gold, churn out 20 to 100 gold pieces a day depending on traffic.

[Red in Blue PA]

Signs o the times.

[Moonman62]

What’s the fee?

[Ann Archy]

Towne Center Mall in Boca is the BEST!!

[smokingfrog]

...near the candy store?

[smokingfrog]

[Wingy]

I’m with you, There must be quite some markup to make this venture successful. Does anyone know what the markup is?

[Caipirabob]

Town Center Mall - I always hated going there.

[omega4179]

It should be less than a brick and mortar coin store...in theory!

[Red in Blue PA]

"Where dis macheen at?"

[Revel]

If anyone lives near there then please check out the price and compare it to spot price. Thank You.

[shempy]

They are charging $122 for 2 grams, so that is nearly a 50% mark-up from the spot price of $88 for 2 grams. That does include packaging and certification, though :)

[Revel]

That sounds a bit too much. But it could be worse I guess.

[Toddsterpatriot]

What’s the fee?

When you can buy real money with fiat, no mark up is too high.....

[Wingy]

Ok. While I don't know when the vid was shot, on The Blaze there is a video that shows the price of a Gold Eagle at $1470.00 displayed on this machine. Gold has been between $1350 and $1420 since around November 1st.

Based on that, I'd guess $50 to $75. Not too bad considering that it's instantly in your hands.

[KC_Lion]

I think is a Golden Box sent from G-D it is.......................................

[Mike Darancette]

5%-15% depending on weight.

What a wonderful way to launder money.