World's first gold bar vending machine

Thu 27 May 2010 01:59 PM

The world’s first gold bar vending machine that was unveiled at Abu Dhabi's Emirates Palace in April, is a "very simple machine",  the head of the company that produced it tells AB TV.

 

The Gold To Go machine, itself covered in 24-carat gold, dispenses one, five and 10 gram bars as well as one ounce bars of gold.\n\nSpeaking about the new machine, Thomas Geissler, the managing director of The Gold To Go says, "It's just a very simple machine. You put some cash in; you take the gold out."\n\nExplaining his rationale behind launching the machine in Abu Dhabi, Geissler says: "Emirates Palace is in Abu Dhabi. Abu Dhabi is a rising country; a country with a huge history. The people have good knowledge [of gold]... and our thinking was if we will be successful here, it [the machine] might be good enough to be successful in other places in the world."\n\nAt present, the German company has 20 machines ready in stock. Geissler shares more about the working of the machine and his future plans in this interview with Mona Ibellini.\n