GoldATM Reports Rapid Interest and Uptake Following Installation of Initial Gold ATM Kiosks

-Company reports more than 1,000 customers registered to first ATMs dispensing Goldback bills –

SALT LAKE CITY–(BUSINESS WIRE)–#AlternativeCurrencyGoldATM, an emerging leader in the ATM industry, today announced initial customer reactions to the company’s first installed and operational Gold ATMs, following the company’s official Feb. 14 launch in Las Vegas at ATMIA.

Early response following the formal announcement during ATMIA, has exceeded expectations. More than 1,000 users have registered and conducted business through the initial 5 units, which have dispensed tens of thousands of dollars in Goldback bills, so far, and the company is planning to install additional Gold ATMs.

The company quietly launched its first five ATMs in key locations in Utah in December 2023, to test the technology and assess interest, in an initiative to make the purchase of gold convenient and accessible to all. The units dispense Goldbacks, which are pure 24-karat gold bills. The bills are flexible and durable, just like cash, and are available through the kiosks for as little as $10.

Goldbacks are ‘Specie Legal Tender’

As background, Goldback bills are classified as “Specie Legal Tender,” making them a recognized alternative gold currency in the state of Utah and a growing set of states that also includes Nevada, Wyoming, South Dakota, and most recently, Florida. Many other states including Missouri and Texas are proposing legislation for Goldbacks as Specie Legal Tender as well.

This is important, according to GoldATM co-founder and CEO Andrew Carey, as it makes the bills not only convenient to save, store and exchange for dollars, but as a legal alternative currency consumers can use Goldbacks to make purchases or payments at a growing list of more than 1,000 merchant locations in Utah.

Says Carey: “Gold is becoming more popular than ever. Costco has reportedly sold more than one hundred million dollars of one ounce gold bars in their last fiscal quarter and had to limit purchases to two bars per customer. However, the retail price point is out of reach for the thousands of consumers who would like to purchase in smaller amounts, or to invest frequently to dollar cost average.”

“We are serving a part of the retail gold market that has never been properly served before via a distribution method as familiar as an ATM,” he said.

Reaction to the first installed kiosks shows that interest in the new Gold ATMs is high and is rapidly growing, with customer traction that is motivating more merchants including well recognized convenience store chains and big-box retailers to inquire about installing Gold ATMs in their storefronts, Carey reports.

“This need and opportunity are allowing our company to use our legacy of experience in the ATM industry to make this resource available to all,” Carey continued.

GoldATM has plans to deploy several thousand Gold ATMs throughout the U.S. within the coming two years, Carey says, and confirms the company is in discussions with prospective partners for international distribution as well.

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About GoldATM is a privately-held company that is the first organization to create true gold ATMs that can instantly convert cash into Goldbacks. Pure 99.99% 24-karat gold that resemble cash. As the world has shown increasing demand and desire to purchase and own gold as a tangible asset, GoldATM makes gold purchase convenient, easy and practical for everyone, for as little as $10.

GoldATM’s initial launch in Utah with a set of five Gold ATMs is expanding quickly to other markets such as Nevada. Response has exceeded expectations thus far. The company is poised for rapid U.S. expansion in 2024 with several hundred Gold ATMs nationwide.

#GoldATM #Goldback #GoldInvestment #GoldEconomy #AlternativeCurrency


PR Contact:

Cheryl Conner, SnappConner PR, for GoldATM


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