The five-star Emirates Palace Hotel installed the bullion ATM in its lobby as the first permanent gold vending machine in the world.
Guarded by armored guards. It sells 24-carat gold bars weighing 1, 5, and 10 grams as well as gold coins from Canada, Australia, and South Africa. Each comes in a sweet-looking black case.
The pricing of the bars is based on a mix of London and New York spot gold markets, with a small premium built in. No sales staff are needed to operate the machine. All bars sold are 24 carat and every item comes with a money-back guarantee.
Golf bar weighing 10 grams or more will have the Emirates Palace hologram embossed on it.
Interesting Facts about Gold
- It is estimated that to date, humans have mined almost 180,000 tonnes of gold! Gold is the most malleable of all metals! One gram of gold can be formed into a square one meter square and a troy ounce of gold can be formed into a thread reaching almost five miles in length! Making it the ideal material for intricate jewellery and watches!
- Gold is edible in small quantities. In many Asian communities, gold is added to food gifts such as fruit and sweets. There are many variations of liquors throughout the world that include gold leaf. Gold can also be found as an ingredient of some medicines.
- Gold is one of the densest metals found on earth, a cubic meter of gold weights 19,300 kilograms, far heavier than lead and not far off the densest metal, Osmium.
- Geologists believe almost all of the gold on earth arrived during meteorite storms over two billion years ago. These meteorites are thought to have formed following the collision of exotic stars several billion years ago.
- Pure gold has a melting point of 1064.43°c.
- AU is the chemical symbol given to gold in the periodic table, derived from the Latin word aurum meaning ‘shining dawn’ and named from Aurora, the goddess of the dawn in Roman culture.