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Madrid ATM dispenses Gold

Fri 24th Sep 2010

A new type of ATM has been introduced in Madrid, which dispenses gold bars and coins in exchange for the appropriate cash deposit. This is the first of it's kind in Europe, the first being in Abu-Dhabi.

The Machine's inventor, and creator of the concept, Thomas Geissler has name the service 'Gold to Go' launched the machine at the Westing Palace lucury hotel in the capital earleir this week.He commented "The big benefit for the client is to have gold at an always reasonable price, what you never can get on a daily basis in banks or with other deals"

He affirmed that in these times of economic uncertainty this new concept protects customers from a devalued paper currency. The machine also boasts an internal computer which ensures that the cost of the Gold is updated in order to refelect trading conditions every 10 minutes.

Geissler accepted that the ATM would attract as much trade from curious tourists as it would serious investors "If you want to buy gold at a good price you come to the machine and you buy, if you are looking for some small souvenir, the smallest souvenir is for 40 euro, you can find here in the machine",he commented.

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