Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Gold ATM lands in Boca Raton

By Charles Riley, staff reporter


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.

gold_to_go_atm_machine.03.jpg

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.

"Thousands of hours of development, lots of tinkering as well as the heart and soul of our fantastic team were invested in GOLD to go -- not exactly a small risk for a medium-sized company," Thomas Geissler, CEO of Ex Oriente Lux AG, which owns Gold to go said in a statement.

Gold to go's machines began showing up last year as gold prices soared amid worries about the health of the global economy. They really gained popularity as euro zone nations' debt ballooned and the U.S. economy remained stuck in a rut.

Gold prices hit record highs of over $1400 an ounce earlier this year and currently trade around $1380 an ounce.  To top of page

Index Last Change % Change
Dow 16,184.02 -190.74 -1.16%
Nasdaq 4,699.63 -33.87 -0.72%
S&P 500 1,930.35 -20.78 -1.07%
Treasuries 2.13 -0.04 -1.85%
Data as of 3:49pm ET
Company Price Change % Change
Bank of America Corp... 15.68 -0.25 -1.60%
Apple Inc 109.40 -0.97 -0.88%
Alcoa Inc 9.52 -0.05 -0.52%
Microsoft Corp 42.62 -0.88 -2.02%
Micron Technology In... 16.72 0.13 0.78%
Data as of 3:34pm ET
Sponsors

Sections

The Force wasn't the only thing to awaken just after midnight on September 4. Cash registers sprang into life as fans flocked to buy new products tied to the latest Star Wars move. More

Harlem's Hot Bread Kitchen teaches kitchen skills to low-income immigrant so they can find employment. More

Google has released Chrome 45, which claims to make your browser faster and give your laptop battery extra life. More

Harlem's Hot Bread Kitchen teaches kitchen skills to low-income immigrant so they can find employment. More

Pimco's famous fund once managed by star manager Bill Gross has less than $100 billion in management for the first time since 2007. More