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One Of The Safest Bets on Fremont Street?

Where: 129 E. Fremont St. [map], 89101
February 7, 2012 at 2:54 PM | by | Comments (3)

Witnessing tourists do double takes is all part of the Las Vegas people-watching experience. But, it's a particular type of reaction you'll discover at a very particular ATM within Downtown's Golden Nugget casino.

Across from the Hand Of Faith, the world's largest publicly displayed gold nugget, sits a very special ATM. And, its been happily confusing visitors for just over a year. Gold To Go, takes your cash and spits out the gift that keeps on giving. Real gold bars, ranging in size from one gram to one ounce, can be purchased and then dropped into a slot, just like a pack of cigarettes. The prices fluctuate based on the gold market are are updated every ten minutes.

Watching tourists encounter this machine is an unusual experience. Some try to use the machine as a regular ATM or try to redeem their winning slot vouchers. Confusion ensues. Then they start to read. They then get confused again. It's such a simple concept. Put in money, get out gold. But equally, it seems rather bizarre. What next? Gold in a can?

In the space of ten minutes, this writer watched two separate groups of tourists huddle around the machine. Both groups walked away. Came back. Took pictures and debated the merits of changing silver into gold. It's a real conversation starter.

Neither packs of tourists indulged and, maybe, here's the reason why. The one gram piece is the size of a thumbnail, yet will set you back a C-note. When you arrive at the heftier one-ounce 50 dollar coin, you're pushed over the two thousand dollar price range.

This machine only takes cash, which is interesting. As is the choice of Spanish, German and Italian language options. (It's a German company so euro-centricism can be forgiven.) Other locations for the ATMs are in Dubai and Europe. You can also find one in Boca Raton, Florida. Or, at least you could. We can't find mention of it, anymore.

A year ago, VegasChatter's own Mr. Pappagiorgio saw the one gram piece selling for $60 shortly after the machine was launched. It will now cost you $104. Consult your financial adviser, but it looks like one of the safest bets on Fremont. The special souvenir Golden Nugget ingot might make a better keepsake than a novelty Vegas dice clock. And, if things turn financially sour just after purchase, you know that Rick Harrison and the Pawn Stars crew didn't name their joint the Gold & Silver Pawn Shop for nothing.

Comments (3)

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Confusion

When they first launched the ATM, the Nugget tried to avoid the confusion by having a host planted there to explain the machine.  That in itself was confusing though because they weren't wearing a uniform of any sort and were just sitting at the nearest slot machine between groups.  But after realizing they weren't "working" independently they were helpful in decoding the ATM machine.  Sounds like those helpful guides are long gone but still needed...

Is that DeLorean still parked outside Binion's?  I wanna go back and buy some gold.

Back to the Futures.....

LOL!

Yes, going back with Marty McFly to 1985 and picking some up for $300 per ounce would be a good idea.

I'm not sure about the Gold ATM - Spot Gold is $1745 per ounce and you can buy US Eagles online for $1830, they're quoting over $2000...ouch, that really is a Porn/Pawn Stars mark up!

mark up

Ah, but can you really put a price on owning an "attractive gift box?"
Thumbs up on your userid btw.

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