“Gold-to-Go” ATMs
May 23rd, 2009 by Simon Salt
Gold-to-Go ATM
A German asset management company is planning to set up 500 “Gold-to-Go” ATMs throughout Germany, Switzerland and Austria this year. A one-gram piece of gold, approximately the size of a child’s little fingernail and about as thin, will cost US$42.25 which is a 30% premium to the spot market price. The flat rectangular piece comes out of the cash-only ATM in a tin box, including a certificate of authenticity.
“This is more than a marketing gimmick,” said Thomas Geissler, chief executive of www.gold-super-mark.de . “It is an appetizer for a strategic investment in precious metals. Gold is an asset everyone should have, between 5% and 15% of your liquid assets in physical gold,” he said. The gold ATMs will be set up at central locations such as shopping malls, airports, and railway stations and are intended to slowly accustom people to the idea of investing in physical gold, Geissler said. The ATMs will be furnished with technology to ensure that the prices charged by the ATMs keep pace with those on the website
- Posted in Business
