Sorry, I don’t have any cash on me. Do you guys take AmEx? What about solid gold; will that do?

The economy still isn’t in the best shape and, in an effort to take advantage of the demand for precious metals like gold and silver, one German company is bringing gold dispensing ATMs to the United States.

First introduced at the Emirates Palace hotel in Abu Dhabi last May, Ex Oriente Lux’s gold machines will make their U.S. debut in Florida before hitting Las Vegas at a later date. CNBC cited Ex Oriente Lux CEO and creator of the Gold to Go brand, Thomas Geissler, who said there  will be around 35 machines issued before the end of the year. Current plans mean we should see a “couple hundred” of the machines installed 2011.

The Gold to Go ATMs will accept cash or credit cards and will dispense gold in 1 gram, 5 gram, 10 gram and 1 ounce denominations, as well as coins. The machine will check prices of gold every 10 minutes, or six times an hour, to match international markets.

Read the full story on CNBC.

FREE eBook Gift for Signing Up
Get Your FREE eBook

Subscribe to Robert's mailing list and get a FREE eBook offer.