Town Center Mall in Boca Raton, Florida is not a run-of-the-mill shopping plaza. With upscale stores like Neiman Marcus, Bloomindale’s, Nordstrom, and Tiffany and Company, there are plenty of opportunities to overspend this holiday season. Now, you can diversify your portfolio by buying gold… from a vending machine!
PMX Gold LLC, the wholly-owned subsidiary of the mining company PMX Communities Inc. worked with Ex Oriente Lux AG to bring the Gold to go® vending machine to the United States. Installed at the Town Center Mall, the machine will dispense 1 gram, 5 gram, 10 gram, 1 ounce, and 250 gram gold bars from Credit Suisse; 1/10 ounce, 1/4 ounce, and 1 ounce Krugerrands; and 1/10 ounce and 1 ounce American Eagle Gold bullion coins.
Gold is dispensed in a black gift box whose price is based on the current spot price that updates wirelessly every 10 minutes. Customers are guided through their purchases using a touch screen that allows them to select the amount of gold they want to purchase. PMX Gold LLC and Simon Properties, owner of the Town Center Mall, will make money of a commission that ranges between 4 and 15 percent depending on the item’s weight. Currently, the machine only accepts cash, but that may change in the future.
The machine will be guarded by am armed security person and monitored by cameras.
This report was broadcast on WPTV, News Channel 5 in Orlando:
Another video from the Orlando Sentinel:
Gold to Go made news when it installed its first Gold ATM at the Emirates Palace in Abu Dhabi. Currently, there are 11 machines in Germany, one in Spain, Italy, United Arab Emirates, and now the United States. Ex Oriente Lux reports that their machines in Europe take in 250,000 to 300,000 Euros per month.
Thomas Geisslei, CEO of Gold to Go, say that the company wants to install more than 30 machines within the United States in the next year. This way, you can decide whether you want that latte or a gold bar.