editor
China has unveiled the world’s first gold ATM that can test, melt, and convert gold items into instant bank transfers all in under an hour.
These high-tech machines, recently showcased at the China Gold Congress in Shanghai, are drawing attention for their ability to turn jewelry, coins, or bars — ranging from just 3 grams to a full kilogram — into real-time cash payments. Designed to be user-friendly and efficient, the machines take your gold, analyze its purity and weight, and initiate a bank transfer based on real-time market value.
What sets this ATM apart is its self-contained smelting and testing process. Once you place the item into the machine, it undergoes a quick evaluation — the purity check is done in just three minutes. If accepted, the gold is melted and tested further to confirm its value, and funds are typically transferred within 30 minutes.
This isn’t just about novelty; it’s part of a broader effort to make gold liquidity more accessible to everyday consumers. The machines are already operating in cities like Shenzhen, Hangzhou, Hong Kong, and Macau — and they’re proving especially popular in regions where people often hold family heirlooms or personal gold items as savings.
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“People have always trusted gold,” said a local resident who tried the machine. “But not everyone wants to visit a shop or deal with middlemen. This is fast, transparent, and fair.”
Behind the scenes, the technology is sophisticated. The machines are designed to work with various global currencies, and their interface can adjust to different languages and legal standards — hinting at future international expansion. Some observers noted strong interest from international visitors at the gold expo, particularly from countries like Russia and Singapore.
Still, not everyone is thrilled about the pricing. The machine charges a service fee of 18 yuan (around $2.50) per gram, which is slightly higher than what traditional gold shops may charge. For some, the convenience might be worth it; for others, the premium could be a deal-breaker.
