Will Gold ATMs Catch on?

As economic fears drive gold prices to new highs, the creator of a gold-dispensing ATM is attracting attention around the globe.

Germany-based GOLD to go, which is currently churning out 50 gold machines a month to meet a recent jump in demand, launched its first ATM in Abu Dhabi's Emirates Palace Hotel earlier this month and opened its second in Germany last week.

The golden ATM's next destinations are the Bergamo Airport in Milan, Italy, all major airports in Malaysia, one of Russia's biggest banks and an undetermined location in Turkey.

By making gold investing as easy as buying a candy bar from a vending machine, GOLD to go hopes to attract average buyers to the gold market.

"We are going to make gold public with these machines," said Thomas Geissler, CEO of Ex Oriente Lux AG, which owns GOLD to go. "The prices are so easy to control that we're going to de-mystify gold and make it easier for anyone to buy it."

GOLD to go's ATM looks like a vending machine and dispenses gold coins and bars weighing up to one ounce at prices updated every 10 minutes based on the real-time spot price of gold.

ATM-owners can choose from a variety of other gold items, such as gold Canadian maple leaf coins, South African Krugerrands, and even some custom designs. For example, the special edition gold medallion it engraved with the Palace Hotel's logo was created for the United Arab Emirate debut.

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Gold Bullion Dealers Say There's Shortage in Many Popular Bullion Products

Demand for gold bullion has resulted in a shortage in a number of popular products for bullion dealers. The shortage, which has been rumored for about a month, has now become a reality, although it's hopeful that it's temporary.

The shortage has had a significant impact on dealers, as some now have a lengthening waiting list. Some dealers who have policies of not taking orders for a product unless they have physical possession or guaranteed delivery from reliable sources of the metal have been hit especially hard.

To get an idea of the demand, most dealers have had about five times the usual orders in the last two weeks because of concerns over the faltering U.S. economy.

Some of the gold products not available at this time are the Pamp 1-ounce and 10-ounce gold bars; 5-9s special edition Maple Leaf; 1-ounce gold Eagles; and gold Buffalo coins. The U.S. mint is no longer taking orders for the Buffalo coin at this time. Gold Eagles are still being produced, but at such a slow rate that most retailers can't get hold of them.