This Vending Machine dispenses Gold Bars

Went around on a quick tour of Abu Dhabi yesterday to check out the rest of the city after the Nokia World event. One of the first stops we made was the Emirates Palace Hotel where the world’s first gold vending machine was installed.

Suffice to say, we were thoroughly impressed. The vendo machine was right in the lobby of the huge hotel, among the rows of other jewelry and gold shops.

There were about a dozen different gold bars (and a single silver medallion) being sold, ranging from 2.5 grams to 10 grams. They’re rated at 99.99% pure at 24k.

Gold prices range from UAE620 for the 2.5grams up to UAE2,395 for the 10 grams. The prices change every 60 seconds based on the prevailing market prices in the gold market. There are some engravings in them as well. They’re a bit pricier than if you go to the gold souks.

The machine accepts cash and debit/credit card. For cash transaction of over UAE5,000, you’ll need to provide an ID card due to potential money laundering while debit and credit cards require a PIN code. Unfortunately, I don’t know my card’s PIN codes so I was not able to buy a sample gold bar.

Abe Olandres

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and considered by many as the Father of Tech Blogging in the Philippines. He is also a technology consultant, a tech columnist with several national publications, resource speaker and mentor/advisor to several start-up companies.

https://www.yugatech.com

13 Comments

captain america 2014 says:

11 years ago

It’s really a cool and useful piece of info. I’m glad that you just shared this useful information with
us. Please stay us up to date like this. Thank you for sharing.
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Akuma says:

11 years ago

ultra NERD kasi si Empoy kaya gusto ibandera na all knowing sya sa mga news. lahat ng IT sites binabasa nya 24/7.
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nick says:

11 years ago

I know there are interesting things to know out there that we are not aware of, so please keep them coming. if i knew it before you posted then so be it. no problem with that. ;-)
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Empoy says:

11 years ago

This is really really old news… ano ba yan…
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yeah says:

11 years ago

Nagse-share lang sila ng experience nila, maka-react ka akala mo alam mo na lahat.. If the news or articles that you see here are already obsolete for you, then stay away from this site. Better yet try to find another site which will give you the most recent news or events.
Iyan Sommerset says:

11 years ago

It ain’t old news…it’s GOLD news. :D
Nicole says:

11 years ago

@empoy, you shouldn’t have bothered to read further. Title palang alam mo nang old news why did you even bother?
countrymouse says:

11 years ago

hijo sabi ni google “news” : information not previously known to someone. kung para sa’yo old na ‘to, eh malamang sa iba news dahil new pa para sa kanila mas mabuti tumahimik ka na lang kesa mag bash/troll.
teacolandia says:

11 years ago

BOBO! Kaya nga pi-nost to kasi Yuga is sharing his experience during his trip to Abu Dhabi for the Nokia Conference. It’s his habit to do these kind of articles whenever he goes out of town.

BASA-BASA RIN PAG MAY TIME UNGAS!
pampam says:

11 years ago

Yup old news nga to. Nakita ko din to sa ibang technews site pero iba pa din na kapwa mo pinoy ang nag kwento sayo about sa machine na to. Wag masyadong papansin! Nag share lang experience nya si sir yuga sa mga loyal readers nya. Eh ikaw nganga?? Hahaha.. Crab mentality nga naman ng pinoy!!
Yopme says:

11 years ago

pa-bida ka! paki mo kung old sa iyo. meron iba dyan na ngayon pa lang nalaman.

JM Cruz says:

11 years ago

Where did I put my axe?
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Iyan Sommerset says:

11 years ago

Having just re-watched Elysium last night, the mere concept of such a thing even existing sickens me.
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