GoldATM Continues US Expansion with Installation of 11 Gold ATM Kiosks in Nevada

-Early use indicates growing interest in ATMs dispensing Goldback bills-

GoldATM is making the purchase of gold more convenient and readily available for all. (Photo: Business Wire)

LAS VEGAS--()--Following the success of initial Q1 installations in Salt Lake City, GoldATM, an emerging leader in the ATM industry, today announced the installation of 11 operational Gold ATMs in Nevada, following the company’s official launch at ATMIA 2024 in February.

GoldATM Co-Founder and CEO Andrew Carey disclosed that early response following the formal announcement continues to meet and even exceed the company’s expectations, as several thousand users have now registered and conducted transactions with the new ATMs in Nevada and Utah. The ATMs have now dispensed tens of thousands of dollars in Goldback bills, and the company intends to continue its rapid expansion through the remainder of 2024.

To test interest among those who are new to the concept, the company has used its initial installations to test the technology and concept as a means of making the purchase of small amounts of gold convenient and accessible to all. The new units dispense pure 24-karat gold bills called Goldbacks. The bills are flexible and durable, like cash, and are available through the kiosks for as little as $20.

The growing adoption of Goldbacks as ‘Specie Legal Tender’

In a growing list of states including Utah, Louisiana, West Virginia, Arizona, Kansas, Oklahoma, Texas, Indiana, Missouri, South Carolina, Tennessee, and Wyoming have implemented or are in the process of implementing laws that recognize gold and silver coins as legal tender. Additionally, Goldbacks are classified as “Specie Legal Tender,” in a growing list of states including Nevada, making them a recognized form of alternative gold currency.

The impetus for this movement, according to Carey, is to democratize the ownership of gold, for whatever purpose, to make it more readily available to all. The Goldback technology makes the bills not only convenient to save, store and exchange for dollars, but also makes them usable as a legal alternative currency for purchases or payments at a growing list of merchant locations.

“Before GoldATM, the purchase of small amounts of gold were economically unfeasible. Most retail physical gold products are sold in troy ounces which is an entry barrier of $2,000+ dollars. This price point is out of reach for millions of consumers who would like to purchase in smaller amounts or to invest regularly and frequently to dollar cost average in,” Cary continued. “We’re serving a part of the retail gold market that has never been properly served before via a distribution method as familiar as an ATM.”

As previously reported in February, GoldATM is continuing its plans to deploy several thousand Gold ATMs throughout the U.S. within the coming two years. Carey also confirmed ongoing discussions with prospective international partners 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 resembles cash. As the world has shown increasing demand and desire to purchase and own gold as a tangible asset, GoldATM makes buying gold convenient, easy and practical for everyone, for as little as $20.

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


Cheryl Conner, SnappConner PR, for GoldATM


Cheryl Conner, SnappConner PR, for GoldATM